KUALA LUMPUR: Malakoff Corp Bhd
's 70%-owned subsidiary Malakoff Evergreen Sdn Bhd has inked a 30-year power purchase agreement (PPA) with Sarawak Energy Bhd's operations arm Syarikat SESCO Bhd.
Under the PPA, MEVSB will design, construct, own, operate, and maintain a 100MWac solar photovoltaic energy generating facility located in Bintulu, Sarawak.
The facility will generate, deliver, and sell solar photovoltaic energy to SESCO throughout the term of the PPA.
Malakoff Evergreen, a special pupose vehicle incorporated to undertake the project, is 70% owned by Tuah Utama Sdn Bhd, a wholly-owned subsidiary of Malakoff Corp.
The remaining 30% stake is held by EE Solar Sdn Bhd.
The scheduled commercial operation date of the plant is set for May 1, 2028.
According to Malakoff group CEO Syahrunizam Samsudin, the recent award of the 470MW LSS5+ solar project and the planned 100MW facility in Bintulu, brings the group's RE capacity to 768MW.
"This expansion marks a major step forward in our portfolio and a tangible contribution to Malaysia’s clean energy transition – equivalent to avoiding 11.1 million tCO2e annually, or the same as a carbon sequestration of 18.3 million mature trees.
"Beyond expanding capacity, it reflects our alignment with the nation’s long-term transition goals and reinforces energy security for the future," he said in a statement.
