11-08-2025
Citaglobal buys stakes in Perak hydro projects
PETALING JAYA: Citaglobal Bhd is acquiring majority stakes in two hydropower projects in Perak for RM15mil.
In a statement, the company said it is acquiring a 70% stake in Zeqna Corp Sdn Bhd for RM15mil, and a 70% equity interest in Koridor Mentari Sdn Bhd for RM1, conditional upon the completion of Zeqna's acquisition.
'This strategic acquisition positions Citaglobal to capture immediate renewable energy revenue from the Slim Hydropower Plant, a proven brownfield hydropower asset in Slim, Perak, while the Kampar Hydropower Plant project – with all state-level approvals secured – is poised to generate robust returns on an accelerated timeline,' the company said.
The Slim Hydropower Plant, owned by Zeqna, is a 6MW brownfield asset that has been operational since July 2019.
The Kampar Hydropower Plant, currently under development by Koridor Mentari, achieved a major milestone with the grant of a new feed-in approval (FiA) on July 25, 2025. Under the revised FiA, the approved capacity has been increased from 5.25MW to 6MW.
