Malaysia's Khazanah to invest in China waste-to-energy projects

Khazanah Nasional Bhd, a state-owned investment arm of Malaysia, Friday announced it will invest up to US$150 million over the next three years in the joint venture with Beijing China Sciences General Energy & Environment Co Ltd to develop at least eight waste-to-energy (WTE) projects in China, according to sources.

The joint venture is working on the acquisition of a project with an installed capacity of 800 tons, and three or four more in the pipeline.

The venture is regarded as a milestone investment made by the fund, in a bid to tap the huge renewable energy market in China amid the government's efforts to achieve sustainable development in the energy sector.

China aims to invest RMB 2 trillion by 2020 in its mid- and long-term development plan for renewable energy and it has set the target to make renewable energy account for 15% of the country's total primary energy consumption by 2020.