Gamuda Ulu Padas Sabah Project To Integrate Massive Floating Solar

Gamuda Berhad’s Ulu Padas hydroelectric project in Sabah has been expanded to include a massive floating solar component, transforming it into an “Integrated Hybrid” energy hub.

The group announced that its joint-venture company, Upper Padas Power Sdn Bhd has accepted a revised Letter of Notification (LoN) from the Energy Commission of Sabah that mandates the integration of a 150 MWac floating solar plant alongside the previously announced 187.5 MW hydroelectric plant.

The transition to a hybrid model significantly boosts the project’s total energy output and financial outlook. Once fully operational, the integrated project is projected to generate over RM450 million in annual revenue.

The equity structure of the developer, UPPSB, remains a strategic partnership between state and private entities with Gamuda Berhad: 45% Sabah Energy Corporation Sdn Bhd (SEC): 40% Kerjaya Kagum Hitech JV Sdn Bhd (KKHJV): 15%

The project will be funded through a combination of internally generated funds and bank borrowings, maintaining a debt-to-equity ratio of 80:20.