De Raj Group to buy stake in Malaysian biomass power plant

Wood pellets. Author: U.S. Department of Agriculture. License: Creative Commons, Attribution 2.0 Generic

October 11 (Renewables Now) - German energy company De Raj Group AG (ETR:DRJ) announced Friday its plan to acquire a stake in an unnamed Malaysia-incorporated company that, through a subsidiary, owns a 9.9-MW biomass-fired power plant project in the Southeast Asian country.

De Raj entered into two agreements with the Malaysia-based private limited company and its holding company. With these agreements, De Raj is in line to subscribe to convertible preference shares in the Malaysian company and acquire a 35% stake.

The targeted company is to indirectly own, manage and operate a biomass-fired plant in Malaysia, using Japanese technology. The plant is expected to sell its output to the grid. No other details have been provided.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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