Comintel unit gets permanent licence to supply RE power to TNB
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Comintel unit gets permanent licence to supply RE power to TNB
Comintel unit gets permanent licence to supply RE power to TNB
By Meena Lakshana / theedgemarkets.com | July 4, 2016 : 7:15 PM MYTKUALA LUMPUR (July 4): Comintel Corporation Bhd said its subsidiary has been approved to provide renewable energy (RE)-derived power to Tenaga Nasional Bhd (TNB).
In a filing with Bursa Malaysia today, Comintel said the Energy Commission approved Comintel Green Technologies Sdn Bhd's (CGT) application for a permanent licence.
CGT's inability to obtain the permanent licence had served as an obstacle to its plans to supply RE-derived power to TNB.
Comintel had said last Thursday (June 30) that the Sustainable Energy Development Authority Malaysia (SEDA) had granted CGT a third extension to extend the feed in tariff (FiT) commencement date to Sept 2 from May 31.
CGT sought the extension as it was not able to meet the scheduled FiT commencement date due to its inability to obtain a permanent licence from the Energy Commission by that date.
CGT was granted a FiT approval by SEDA in July 2014 to convert biomass into RE and supply the power to TNB at 42.31 sen per kWh for a 16-year period.
Comintel shares closed unchanged at 77 sen, with a market capitalisation of RM111.3 million.
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