In a bid to tackle Sabah's pressing electricity shortage, Lucro Investments VCC Renewable Energy Fund (REF) and Innoprise Synergy (IS) have joined forces to form a groundbreaking joint venture. Together, they are set to develop 1,000 megawatts of mini-hydropower plants in Sabah, marking a significant step towards alleviating the region's power supply challenges. This article delves into the details of this partnership and its potential impact on Sabah's energy landscape.
Addressing Sabah's Critical Electricity Shortage
Understanding the urgency of the situation
Sabah is currently facing a critical shortage of electricity, which has had a significant impact on the daily lives of its residents. The need for a reliable and consistent power supply is more pressing than ever, and urgent measures are required to address this issue.
With the aim of finding a sustainable solution to this problem, Lucro Investments VCC Renewable Energy Fund (REF) and Innoprise Synergy (IS) have come together to form a joint venture. This partnership is set to make a significant difference in Sabah's energy landscape by developing mini-hydropower plants.
By harnessing the power of Sabah's unique water resources, these mini-hydropower plants will not only generate renewable energy but also contribute to alleviating the inadequate power supply in the region. This joint venture holds great promise for improving the living conditions of all Sabah residents.
Introducing Sabah Norbu Hydro Sdn Bhd
The joint venture's approved entity
The joint venture between REF and IS has resulted in the formation of Sabah Norbu Hydro Sdn Bhd (SNH), an approved entity by the Sabah government. SNH is committed to developing and constructing over four phases, small hydropower plants in Sabah, with a total power generation capacity of 1,000 megawatts.
With the first phase of construction expected to commence in early 2024 and be completed by 2026, SNH is actively obtaining all necessary approvals from state and local authorities. This includes conducting environmental impact assessments and feasibility studies, as well as collaborating with local consultancy Aktif Fa Konsult Sdn Bhd.
As part of their commitment to this project, SNH has partnered with PowerChina, the world's largest power construction company, for the EPC (Engineering, Procurement, and Construction) of the mini-hydropower plants. This collaboration ensures that the project will be executed to the highest standards of quality, quantity, and timeliness.
Benefits for Sabah and Its Residents
Improving power supply and boosting local communities
The development of mini-hydropower plants in Sabah holds numerous benefits for the region and its residents. Firstly, it will significantly contribute to addressing the critical electricity shortage, ensuring a more reliable and consistent power supply for all.
Moreover, these mini-hydropower plants will be situated in inland and rural areas, providing a much-needed economic boost to local communities. The construction and operation of these plants will create job opportunities and stimulate economic growth, ultimately improving the living conditions of the people in these areas.
Additionally, the use of renewable energy sources like hydropower will contribute to a more sustainable energy future for Sabah, reducing its reliance on fossil fuels and lowering carbon emissions.
Aligning with Sabah's Energy Roadmap
Supporting the vision for a sustainable energy future
The joint venture between REF and IS is in line with Sabah's Energy Roadmap and Master Plan Vision 2040 (SE-RAMP 2040). This roadmap aims to pave the way for a dependable, accessible, affordable, and sustainable energy future for Sabah.
By investing in mini-hydropower plants, the joint venture partners are actively contributing to the realization of this vision. The development of renewable energy sources and the improvement of the power supply infrastructure are crucial steps towards achieving a sustainable and resilient energy sector in Sabah.
Through this joint venture, REF and IS are demonstrating their commitment to supporting Sabah's energy goals and ensuring a brighter future for the region.
