PETALING JAYA: Nestcon Bhd
has received two letters of notification from the Energy Commission of Sabah for the development of large-scale solar photovoltaic (LSSPV) plants in Sabah.
In a filing with Bursa Malaysia, Nestcon said the first project is a 14.99 megawatt alternating current (MWa.c.) solar facility located in Bongawan, while the second is a 4.00 MWa.c. plant in Sri Tanjong.
The company said the LSSPV projects will each operate under a 25-year power purchase agreement, with a commercial operation date required no later than Nov 30, 2026.
Nestcon said it plans to finance the project through internally generated funds and/ or bank borrowings.
The company said the project is expected to contribute positively to its net assets per share, earnings per share and gearing throughout the duration of the project.
