KUALA LUMPUR: Solarvest Holdings Bhd
’s 30 per cent-owned subsidiary Selarong Pertama Energy Sdn Bhd (SPESB) has been approved by Tenaga Nasional Bhd (TNB) to operate as a merchant generator.
SPESB is authorised to sell energy to the single buyer with a capacity of 29.99-megawatt alternating current (MWac), and this facility will be located in Kulim, Kedah.
In a filing with Bursa Malaysia today, Solarvest said SPESB has received the signed New Enhanced Dispatch Agreement (NEDA) connection agreement entered into with TNB on Nov 7, 2024.
"The board believes that the signing of the NEDA connection agreement is in the best interest of Solarvest.
"Under the NEDA connection agreement, SPESB will construct, own, operate and maintain a solar photovoltaic energy generating facility with its approved export capacity of 29.99 MWac,” said the clean energy specialist.
The renewable energy produced will be sold virtually via a separate corporate green power agreement to Micron Semiconductor Malaysia Sdn Bhd.
Solarvest added that TNB agreed to give SPESB access to its bulk power network for the supply of the energy generated by the facility under the implementation of the NEDA guidelines by the Energy Commission and the signing of the NEDA connection agreement.
The group expects positive future earnings contribution from the facility from the commercial operation date for the span of 21 years. - Bernama
