Scanwolf unit seals deal with TNB, Armani for solar PV system

KUALA LUMPUR: Scanwolf Corp Bhd, through its subsidiary Scanwolf Plastic Industries Sdn Bhd (SPI), has signed a 20-year supply agreement of renewable energy with Tenaga Nasional Bhd (TNB) and Armani Energy Sdn Bhd (AESB) for the purchase of solar photovoltaic (PV) energy.

In a filing with Bursa Malaysia yesterday, Scanwolf said the energy will be generated and delivered by AESB at SPI’s premises in Tronoh, Perak.

“SPI shall make solar energy payments in full to TNB for such net electrical output and solar PV system monthly at a solar energy rate of 32 sen per kilowatt-hour.

“The company is expected to save RM23,000 monthly through the usage of the solar PV system,” it said.

Scanwolf said SPI will benefit from further maximum savings in utility payments for such net electrical output every month.

The solar PV system is expected to be completed by the fourth quarter of financial year ending June 30 this year.

The option to purchase is not expected to have any material effect on the earnings per share and net assets of the group, it added. — Bernama