PETALING JAYA: Malakoff Corp Bhd is acquiring a 51% equity interest in ZEC Solar Sdn Bhd and a 49% stake in TJZ Suria Sdn Bhd from Zelleco Engineering Sdn Bhd for Zelleco Engineering Sdn Bhd for RM27mil.
In a filing with Bursa Malaysia, Malakoff said ZEC Solar is the owner and developer of a large solar scale photovoltaic (LSSPV) facility with a capacity of 29 megawatts alternating current, located in Kota Tinggi, Johor under the large scale solar program with a 21-year solar power purchase agreement until 2040.
Meanwhile, TJZ Suria currently operates and maintains a LSSPV facility under a 21-year operation and maintenance contract with ZEC Solar.
Malakoff said the proposed acquisition provides an opportunity for the group to expand its capacity and portfolio in the renewable energy sector.
“Furthermore, the proposed acquisition is in line with the National Energy Transition Roadmap and to also showcase Malakoff’s strong support as well as commitment in accelerating our national green and sustainable growth agenda.”
