Malakoff buys two RE firms for RM27mil

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 RM27mil.

In a filing with Bursa Malaysia, Malakoff said ZEC Solar is the owner and developer of a large-scale solar photovoltaic (LSSPV) facility with a capacity of 29 megawatts alternating current, located in Kota Tinggi, Johor under the large-scale solar programme with a 21-year solar power purchase agreement until 2040.

Meanwhile, TJZ Suria currently operates and maintains an LSSPV facility under a 21-year operation and maintenance contract with ZEC Solar.

Malakoff said the proposed acquisition provided an opportunity for the group to expand its capacity and portfolio in the renewable energy or RE sector.

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Malakoff , renewableenergy , solar , acquisition , ZECSolar , RE


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