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Citaglobal-Reneuco consortium wins 30-year concession to power up ECRL

Citaglobal Bhd and Reneuco Bhd have jointly secured a 30-year concession from Malaysia Rail Link Sdn Bhd (MRL) to supply electricity to the East Coast Rail Link (ECRL), including the development of power transmission and interconnection facilities valued at RM600 million. The consortium, with Citaglobal owning 60% and Reneuco owning 40%, aims to provide up to 100MW of renewable energy (RE) to achieve a 30% green energy mix for the ECRL network. The contract is exclusive and covers both traction and non-traction systems. However, Reneuco recently fell into PN17 status due to an external auditor's disclaimer on its financial statements, but the company claims its accounts have been reviewed independently and found to be sufficiently supported. Both companies are working towards finalizing agreements and obtaining necessary approvals to proceed with the project.

Citaglobal-Reneuco consortium wins 30-year concession to power up ECRL

Citaglobal Bhd and Reneuco Bhd have jointly secured a 30-year concession from Malaysia Rail Link Sdn Bhd (MRL) to supply electricity to the East Coast Rail Link (ECRL), including the development of power transmission and interconnection facilities valued at RM600 million. The consortium, with Citaglobal owning 60% and Reneuco owning 40%, aims to provide up to 100MW of renewable energy (RE) to achieve a 30% green energy mix for the ECRL network. The contract is exclusive and covers both traction and non-traction systems. However, Reneuco recently fell into PN17 status due to an external auditor's disclaimer on its financial statements, but the company claims its accounts have been reviewed independently and found to be sufficiently supported. Both companies are working towards finalizing agreements and obtaining necessary approvals to proceed with the project.

Citaglobal-Reneuco consortium wins 30-year concession to power up ECRL

Citaglobal Bhd and Reneuco Bhd have jointly secured a 30-year concession from Malaysia Rail Link Sdn Bhd (MRL) to supply electricity to the East Coast Rail Link (ECRL), including the development of power transmission and interconnection facilities valued at RM600 million. The consortium, with Citaglobal owning 60% and Reneuco owning 40%, aims to provide up to 100MW of renewable energy (RE) to achieve a 30% green energy mix for the ECRL network. The contract is exclusive and covers both traction and non-traction systems. However, Reneuco recently fell into PN17 status due to an external auditor's disclaimer on its financial statements, but the company claims its accounts have been reviewed independently and found to be sufficiently supported. Both companies are working towards finalizing agreements and obtaining necessary approvals to proceed with the project.