Sabah signs RM100 mil deal with Japanese renewable energy firm

Dateline 2019-12-04, FMT:

Tokyo-based Blue Capital Management Ltd will invest RM100 million to start a biomass energy plant in Sabah’s Lahad Datu Palm Oil Industrial Cluster (POIC).

An agreement signed among POIC Lahad Datu, Sabah firm Blossom Bio Energy and Blue Capital includes a 20-year lease agreement in POIC Lahad Datu Estate.

Under the deal signed in Tokyo, Japan, today, Blossom Bio Energy and Blue Capital will jointly undertake the construction of the renewable energy factory.

The plant is expected to source Sabah palm oil kernel and empty shells as raw materials to produce renewable energy, with Blue Capital using its energy storage system to export the product to Japan.

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