PETALING JAYA: Tenaga Nasional Bhd
(TNB) has received a letter of notification as a shortlisted bidder from the Energy Commission (EC) to develop a 500 megawatt alternating current large scale solar photovoltaic plant at Kuala Muda, Kedah.
In a filing with Bursa Malaysia, TNB said the plant project follows the fifth large scale solar bidding round (LSS5), a competitive bid process conducted by the EC.
“This project aligns with our renewable energy growth objectives and supports our energy transition initiatives towards achieving net zero by 2050.
“The project is expected to be earnings accretive to TNB upon the commissioning of the project.”
TNB said the project will not have any material effect on TNB’s consolidated net assets per share prior to commissioning.
“The project will be financed through a combination of debt and equity. It is not expected to have a material effect on TNB’s gearing position.
“The transaction will not have any effect on the share capital of TNB.”
