KUALA LUMPUR: Samaiden Group Bhd's wholly-owned indirect subsidiary Samaiden Legasi Timur Sdn Bhd has inked a power purchase agreement (PPA) with Tenaga Nasional Bhd
for the sale and purchase of electricity from Samaiden's solar photovoltaic (PV) energy generating facility under the fifth round of Malaysia's large scale solar (LSS5) programme.
In a statement, Samaiden said the PPA governs the obligations of both parties for the construction, ownership, operation, and maintenance of a 99.99MWac solar PV facility in Pasir Mas, Kelantan.
Under the agreement, TNB will purchase the net energy output from the facility up to the Maximum Annual Allowable Quantity (MAAQ) of 257,988.14 MWh over a period of 21 years from the scheduled Commercial Operation Date (COD) on Oct 11, 2027.
"This project represents not only a significant expansion of our portfolio but also a long-term revenue stream that will support our financial sustainability," said Samaiden group managing director Datuk Chow Pui Hee.
The signing of the PPA is not expected to have any immediate material impact on the net assets and earnings of Samaiden and its group of companies for the financial year ending June 30, 2025.
However, the solar facility is projected to generate positive earnings for the group over its 21-year operational lifespan, strengthening its long-term revenue base.
