Taliworks completes acquisition of four solar projects

Taliworks executive director Datuk Ronnie Lim Yew Boon

KUALA LUMPUR: Taliworks Corp Bhd has completed the acquisition of the majority economic interest in four solar projects from TerraForm Global Operating LP (TerraForm Global) and several of its subsidiaries.

In a filing with Bursa Malaysia, the infrastructure company said the solar projects, located within the vicinity of the Kuala Lumpur International Airport, have an aggregate capacity of 19-megawatt peak.

As part of the transaction, Taliworks also acquired TerraForm Global Operating (Malaysia) Sdn Bhd, an operations and maintenance services provider of solar projects.

Taliworks will be working diligently in the following weeks to complete the acquisition of the remaining minority economic interests.

Executive director Datuk Ronnie Lim Yew Boon said its maiden acquisition would provide Taliworks with a solid platform to further expand into other renewable energy projects.

“Additionally, the four solar projects will immediately serve as a reliable contributor to the group’s earnings and cashflow, as the projects are

fully backed by renewable energy power purchase agreements with investment grade off-takers.

“This acquisition no doubt enhances Taliworks’ already strong financial footing and serves as a potential catalyst for stable growth, moving forward.

“With that said, Taliworks is very proud to be a player in the renewable energy sector, and we will work hard to continue our growth in this space,” Lim said.