UEM Group acquires majority stake in Cenergi SEA Berhad
SHAH ALAM - UEM Group Berhad (UEM Group), a leading Malaysian conglomerate, has acquired a majority stake in Cenergi SEA Berhad (Cenergi), a renewable energy company.
The acquisition was made from Khazanah Nasional Berhad, a Malaysian government investment company.
Cenergi is a leading player in the renewable energy sector in Malaysia. It specialises in biogas, biomass, and solar power, as well as energy efficiency projects.
The company has a portfolio of 23 biogas power plants in Malaysia and Indonesia, totaling 39.6 megawatts (MW). It also has 20 solar projects in Malaysia, including solar farms and rooftop solar, totaling more than 37.6 megawatt peak (MWp).
The acquisition of Cenergi is a strategic move for UEM Group. It will help the company to expand its presence in the renewable energy sector and to meet the growing demand for clean energy in Malaysia.
"Cenergi has an impressive track record and projects across the country.
"Cenergi is a vital asset of UEM Group, and our ultimate goal is to position Cenergi as a green domestic champion, significantly contributing to Malaysia's sustainable future.
"We see tremendous potential in this firm and are committed to nurturing it as well as providing the expertise, operational, and financial support to improve Cenergi's operating capabilities, secure more projects, and usher in a new age of growth," UEM Group Managing Director Mohd Izani Ghan said in a statement today.
The acquisition of Cenergi is also a sign of UEM Group's commitment to sustainability.
The company is aiming to achieve net-zero carbon emissions by 2050. The addition of Cenergi to its portfolio will help UEM Group to reduce its carbon footprint and to contribute to a cleaner environment.
