KUALA LUMPUR, Yinson Holdings Bhd announced that its subsidiary, Yinson Renewables, has obtained approval from New Zealand’s Overseas Investment Office (OIO) to proceed with its renewable energy investments in the country.
In a statement, Yinson said the approval marks a significant step forward for the group’s renewable energy expansion plans in New Zealand, where it has been actively investing in the wind energy sector over the past four years.
While specific project details were not disclosed, the company noted that the OIO’s endorsement will enable it to accelerate the development of its clean energy pipeline in the country.
Group executive chairman Lim Han Weng said the company remains committed to building a long-term presence in New Zealand by working closely with the government, local partners and surrounding communities to help advance the nation’s renewable energy goals.
New Zealand Prime Minister Christopher Luxon also highlighted the approval as a milestone, describing Yinson Renewables’ projects as a major contribution to the country’s renewable energy infrastructure.
At the close of trading on Tuesday, Yinson’s shares slipped two sen or 0.84% to RM2.35, valuing the group at RM7.56 billion.
