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Mudajaya unit bags TNB solar power contract

17 Mar 2017

TheStar: 

PETALING JAYA: Mudajaya Group Bhd’s indirect wholly owned subsidiary, Sinar Kamiri Sdn Bhd, has bagged a contract to supply up to 49MWac of electricity under a solar energy initiative to Tenaga Nasional Bhd (TNB) for a period of 21 years.

 

In a filing with Bursa Malaysia, TNB announced that it had inked a power purchase agreement (PPA) with Sinar Kamiri yesterday, in which the latter will design, construct, own, operate and maintain a solar photovoltaic energy-generating facility of 49MWac in Sungai Siput, Perak.

 

The large-scale solar energy facility’s operations are expected to commence on Aug 31, 2018. The PPA’s tenure of 21 years will be effective from the commencement of the facility’s commercial operation.

 

“The signing of the PPA will not have any effect on the issued share capital and the substantial shareholders’ shareholdings of TNB.

It will have a neutral impact on the earnings of TNB over the term of the PPA,” said TNB in the filing.

 

To recap, the Energy Commission initiated a competitive bidding exercise last year to develop, among others, the transmission-connected large-scale solar projects. Seven successful bidders were chosen via the competitive bidding, with Sinar Kamiri being one of them. Thus far, apart from Sinar Kamiri, TNB has executed PPAs with four other successful bidders, namely, UITM Solar Power Sdn Bhd, TNB Sepang Solar Sdn Bhd, Solar Management (Seremban) Sdn Bhd and Gading Kencana Development Sdn Bhd.

 

Sinar Kamiri is a wholly owned subsidiary of Mudajaya RE Sdn Bhd, which is an indirect wholly owned subsidiary of Mudajaya Group through its wholly owned subsidiary, Mudajaya Energy Sdn Bhd.


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