KUALA LUMPUR: KPower Bhd's sub-subsidiary Mikrogrid Lestari Sdn Bhd has been selected as one of the successful bidders under the feed-in tariff e-bidding exercise for small hydropower plants conducted by the Sustainable Energy Development Authority (Seda).

       In a filing with Bursa Malaysia, the construction group said it had the winning bid to develop a small hydro power plant with a total capacity of 40.4MW in Gua Musang, Kelantan, with a basic feed-in tariff rate of 22.49 sen per kilowatt-hour.

       It added that the feed-in approval certificate will be issued within 14 days upon fulfilment of the conditions set out by Seda.

       Mikrogrid Lestari is 55%-owned by KPower RE Sdn Bhd, which in turn is wholly owned by KPower.

       As at midday break, KPower's shares were last traded up one sen or 2.17% to 47 sen each on the back of 3.45 million shares traded.

       Its warrants were down 0.5 sen or 3.7% to 13 sen apiece.