Latest news with #VoithHydro
New Straits Times
09-05-2025
- Business
- New Straits Times
HeiTech Padu and Austrian partner's Sungai Perak hydroelectric contract worth RM2.5bil
KUALA LUMPUR: HeiTech Padu Bhd says the value of its engineering, procurement, construction and commissioning (EPCC) contract related to the Sungai Perak hydroelectric project is RM2.5 billion. HeiTech Padu, which formed a consortium with Austria's Hydro GmbH & Co KG (Voith Hydro) for the contract, said its portion is RM903 million. Voith Hydro will receive around RM134.0 million and €291.4 million (RM1.4 billion), HeiTech said in a Bursa Malaysia filing today. HeiTech earlier in February said it had received a letter of acceptance from TNB Power Generation Sdn Bhd for the hydroelectric facility project worth RM1.04 billion. The contract involves electrical, mechanical and civil works at three hydroelectric stations, SJ Temengor, SJ Bersia and SJ Kenering. The contract began on March 31, 2025 and will run for up to 99 months, ending on June 30, 2033. "The board envisages that the business of development, ownership, operation and maintenance of renewable energy power plants as well as related EPCC services in relation to energy solutions will become a major contributor to the group's earnings going forward. "The hydroelectric EPCC project is expected to be the primary revenue driver," it said. In a separate announcement, HeiTech said it is raising RM43.7 million through a private placement of new shares. The company said the proceeds will be used to fund the National Integrated Immigration System (NIISe) project and for working capital. The fundraising will be carried out after a bonus issue of 27.84 million new shares, on the basis of one bonus share for every four existing shares held. Following the bonus issue, the company's total share capital will increase from 111.35 million to 139.18 million shares. "The company is allocating RM35 million of the gross proceeds to be raised from the proposed private placement to fund the NIISe project, particularly in the initial stages of design and planning as well as infrastructure and hardware procurement." About RM7.3 million will be utilised to finance its day-to-day operations which includes staff costs and other overhead costs such as, among others, rental of office and leased lines, it added.
Yahoo
12-03-2025
- Business
- Yahoo
Gov. Shapiro ready to invest in wind, solar, hydro power for energy future
YORK COUNTY, Pa. (WHTM) – Governor Shapiro was at Voith Hydro Tuesday afternoon discussing Pennsylvania's energy future, or as he likes to call it, the Lightning Plan. 'We determined working together that we're powerful enough to run our system, to be able to lower costs, protect and create jobs, and take meaningful action to address climate change,' Gov. Shapiro said. Along with that is building next generation power in the commonwealth, which includes wind, solar and hydro power. Natural gas industry experts such as Jim Welty, the president of the Marcellus Shale Coalition – a statewide trade association representing the natural gas industry in Pennsylvania, aren't digging the governor's plan. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now 'You can't run a full-time economy on part-time power,' Welty said. Welty believes there is plenty of untapped potential underneath Pennsylvanians' feet. 'We sit on top of one of the largest natural gas basins in the world,' Welty said. 'We aren't having any conversation about how to include private investment into natural gas generation.' York County live music venue announces upcoming closure Legislation for the Lightning Plan will be pitched next week. Democratic state representative Danielle Friel Otten (Chester Co.) will sponsor one of the bills involved. 'We must act now to increase and diversify our energy supply to meet that demand, or Pennsylvania consumers and ratepayers will soon be forced to bear the substantive cost of our inaction,' Friel Otten said. More natural gas investment dollars are going to states like Ohio and West Virginia according to Welty, as Pennsylvania isn't investing in-state like it used to. 'We've seen over $15 billion of private capital investment up into the pandemic in natural gas generation facilities,' Welty said. 'We've seen almost $0 since then.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
