PETALING JAYA: Ibraco Bhd
has signed a power purchase agreement (PPA) with Syarikat Sesco Bhd to build a solar photovoltaic (PV) energy generating facility in Bintulu Division, Sarawak, to generate and deliver solar PV energy to the latter.
In a filing with Bursa Malaysia, Ibraco said the PPA governs the obligations of the parties to sell and purchase the energy generated by the facility for a period of 30 years from the proposed commercial operation date in December 2029, in accordance with the terms and conditions in the PPA.
The facility will have a capacity of 100MW alternating current.
“The PPA is not expected to have any material impact on the earnings and net assets of the Ibraco group of companies for the financial year ending Dec 31, 2026.
“Nonetheless, it is expected to contribute positively to the future earnings of Ibraco group from the commencement of commercial operations of the facility.”
