KUALA LUMPUR: MK Land Holdings Bhd, through its renewable energy subsidiary, Citra Energies Sdn Bhd, has achieved financial close for the development of a 29.99 megawatt alternating current solar photovoltaic (PV) plant in Kulim, Kedah.
In a statement today, the property development company said the project brought together a strong ecosystem of strategic global and local collaborators, including backing from a prominent international financial institution with expertise in sustainable finance and investments.
It said the project also involves offtake arrangements with multinational corporations expanding their presence in the region, while the engineering, procurement, construction and commissioning (EPCC) services are undertaken by a leading local renewable energy and clean energy solutions provider.
MK Land chief operating officer - group resources and director of Citra Energies Frankie Chai said that achieving financial close for the Citra Energies project is a defining step in our renewable energy journey.
"It reflects our long-term commitment to building a sustainable energy platform that contributes meaningfully to Malaysia’s low-carbon transition.
"Beyond infrastructure, this project represents our belief in the future of clean energy as a driver of economic resilience and regional competitiveness. It also strengthens our role in supporting Malaysia to advance its net-zero ambitions,” he said.
MK Land said that its participation alongside established global and local players underscores confidence in Malaysia’s renewable energy framework and reinforces the role of experienced parties in delivering bankable, utility-scale clean energy infrastructure.
"Once operational, the solar PV plant will supply renewable energy directly into Tenaga Nasional Bhd
’s grid. This power shall be supplied to corporate consumers through virtual power purchase agreements over a 21-year tenure.
"This structure not only ensures stable recurring revenue, but also addresses the growing demand from multinational corporations and large-scale industrial players seeking renewable energy solutions to support their operational needs, sustainability objectives and decarbonisation pathways,” it added. - Bernama
