Ranhill Capita Sdn Bhd acquires18.7 million ordinary shares in Tawau Green Energy

Ranhill’s subsidiary Ranhill Capita Sdn Bhd has acquired 187 million ordinary shares in Tawau Green Energy last week. This means a 26.7% stake in the company.

Tawau Green Energy (TGE) is principally involved in the design, construct, own, operate and maintain a renewal energy power plant for the purpose of selling electrical energy to Sabah Electrical Sdn. Bhd. TGE has received requisite approvals to develop a 37 MW geothermal power plant at Apas Kiri, Tawau, Sabah.

“The RM18.7mil consideration was based on RM1 per share on a willing-buyer willing-seller basis. The acquisition was funded by internally generated funds,” Ranhill said.

The other shareholders of TGE are Kamarul Kamil (24.3%), Ramzi Sarofim Kozhya Raad (40%) and Exergy S.P.A (9%).