KUALA LUMPUR (May 8): Jentayu Sustainables Bhd said its exclusivity period with Voith Hydro Holding GmbH & Co KG (Voith) to collaborate on hydropower plant projects has lapsed, as both parties did not finalise any definitive agreement within the execution timeline.

In a filing to Bursa Malaysia, Jentayu Sustainables said it is now able to engage in discussions with other international players in the hydropower industry.

 “Despite the lapsed collaboration agreement, both Jentayu Sustainables and Voith will continue the ongoing discussions and remain committed to finalise the terms of the definitive agreements on a non-exclusive basis,” Jentayu added.

Jentayu Sustainables and Voith signed the collaboration agreement on Nov 7 last year to conduct joint development activities for the execution and operation of hydropower plant projects.

The agreement required both parties to sign definitive agreements, consisting of pre-engineering, electrical and mechanical contracts, and investment agreements within a prescribed period.

Jentayu Sustainables is in the midst of developing “Project Oriole”, which consists of two run-of-river hydro plant projects of up to 31 megawatt in Sungai Magilan and up to 129MW in Sungai Padas, both in Sipitang, Sabah.

Jentayu shares gained 0.58% or half sen to close at 86.5 sen on Monday (May 8), giving it a market capitalisation of RM330.18 million.