KUALA LUMPUR: G Capital Bhd’s (GCAP) wholly-owned subsidiary, Northern Star Hydropower Sdn Bhd (NSH), signed a memorandum of understanding (MoU) with CCIAM Logistic Company Ltd (CCIAM Logistic) to develop clean energy solutions.
Under this agreement, CCIAM Logistics will be the principal arranger for NSH to raise RM325 million (approximately US$65 million) for its 26 MWac small hydropower project development in Pahang within 60 days before a full-term agreement.
This collaboration extends beyond financing, encompassing comprehensive services to implement robust environmental, social and governance (ESG) strategies.
G Capital executive chairman General (Rt) Tan Sri Affendi Buang expressed optimism about the partnership as he sees it as unlocking a gateway to abundant global green capital and is eager to invest in GCAP’s small hydropower portfolio.
“CCIAM Future Energy aligns perfectly with our vision for a sustainable future. Their expertise and presence at HKEX bridge the gap between China and international markets. This partnership will deliver significant benefits for all,” Affendi said in a statement.
CCIAM Logistic is a subsidiary of the Hong Kong Stock Exchange (HKEX) main board-listed CCIAM Future Energy Ltd (CCIAM Future Energy).
CCIAM Future provides energy-saving solutions, including heating, ventilation and air conditioning (HVAC) systems for commercial, retail and industrial buildings, and the provision of financial investment and loan financing businesses.
“This strategic partnership is poised to accelerate Malaysia’s transition to clean energy by attracting foreign direct investment (FDI), fueling economic growth, and propelling the nation towards carbon neutrality,” Affendi said.
