Majority shares in Sustainable energy solutions company Cenergi acquired by UEM

Khazanah Nasional Berhad (Khazanah) has sold the majority of its shares in Cenergi SEA Berhad (Cenergi), a provider of sustainable energy solutions, to Malaysian engineering firm UEM Group Berhad.

Cenergi is now a division of UEM Group, according to a statement released by the company.

“Cenergi has a commendable track record with projects and presence across the country,

“We see immense potential in this company and are committed to nurture as well as provide the necessary expertise, operational and financial support that will enhance Cenergi’s operational capabilities, secure more projects and usher in a new era of growth,” UEM Group Managing Director Mohd Izani Ghani said.

He asserts that Cenergi is a crucial component of UEM Group and that the company wants to ultimately position Cenergi as a green domestic leader to make a significant contribution to Malaysia’s sustainable future.

Additionally, he stated that UEM Lestra Berhad (UEM Lestra), the green industries division and a wholly-owned subsidiary of UEM Group, has made renewable energy one of its key sectors and top priorities.

“This is due to the sector’s strong market attractiveness and high importance to Malaysia’s decarbonization agenda. Cenergi’s extensive experience and capabilities in this sector make them a valuable addition to UEM Group and UEM Lestra specifically,” he said.

Moreover, he pointed out that Cenergi’s membership in the UEM Group of Companies will foster strategic complementarity between its subsidiaries in terms of their various core businesses.

“By leveraging on the expertise and strengths of each of our subsidiaries, we will be able to create synergistic business opportunities for UEM Group as a whole,” he added.

Cenergi, a 2008 incorporation, focuses on lowering carbon footprints by funding energy efficiency and renewable energy projects, particularly biogas, biomass, and solar energy.

The company is the biggest grid-connected POME biogas player in Malaysia.

Projects for biogas, rooftop solar, and solar farms are currently being built and developed by Cenergi in Malaysia.