KUALA LUMPUR: BM Greentech Bhd
’s wholly-owned subsidiary, Plus Xnergy Holding Sdn Bhd, has acquired a 100% equity interest in NEFIN V Power Sdn Bhd (NVP), a special-purpose vehicle with rights to develop a 29.99MWac solar photovoltaic farm under the Corporate Green Power Programme.
Plus Xnergy will acquire a 90% stake in NVP from NEFIN Energy (M) Sdn Bhd for RM3.24mil and the remaining 10% from NEFINCO (M) Sdn Bhd for RM360,000.
The RM3.6mil purchase will be financed through internally generated funds under two sale and purchase agreements.
In a statement, the biomass boiler design and manufacturing group said the acquisition is expected to generate recurring income from 2027 when the solar plant is commissioned, producing about 60,000MWh of electricity annually and avoiding over 1.1 million tonnes of carbon emissions over its 25-year lifespan, while complementing its engineering, procurement, construction and commissioning business.
