Jentayu Inks Project Development Collaboration Agreement With Sumitomo Corporation

Business Today · Oct 2 18:27

Jentayu Sustainables Berhad, together with its wholly owned subsidiary Oriole Power Sdn Bhd, have entered into a project development collaboration agreement (PDCA) with Sumitomo Corporation for the development of Project Oriole, a 162-megawatt run-of-river hydropower plant in Sipitang, Sabah.

The PDCA will also serve to enhance the existing collaboration between the Jentayu and Sumitomo. The PDCA includes the following salient points a re-emphasis on the key clauses in the memorandum of understanding and subsequent deed of amendments signed with Sumitomo on July 20, 2023, and May 21, 2024, respectively; option for Sumitomo to contribute in advance towards the development cost of the project for an amount up to RM12.4 million and deeper collaboration with Sumitomo on key decisions of the project.

Project Oriole is the development of two hydropower plants in Sabah's Sipitang district, along Sungai Maligan and Hulu Sungai Padas — that is estimated to cost RM2.77 billion.

It was previously reported that the project is expected to be completed by end of 2027 or by early 2028.

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Jentayu Inks Project Development Collaboration Agreement With Sumitomo Corporation

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