KUALA LUMPUR: A joint venture between SD Guthrie Bhd
, Gamuda Bhd and Gentari Renewables Sdn Bhd has entered into a term sheet for a 21-year renewable energy supply contract with a US-based multinational technology company to power its data centres in Malaysia.
In separate filings with Bursa Malaysia, SD Guthrie and Gamuda said G3nerasi Kinta Sdn Bhd (GKinta) entered into the term sheet for the proposed bilateral energy supply contract (BESC) on Sept 28 under the Corporate Renewable Energy Supply Scheme (CRESS).
The project involves a hybrid utility-scale solar photovoltaic plant in Perak with a minimum net capacity of 680MWac, coupled with a four-hour battery energy storage system (BESS).
“The project is estimated to generate gross revenue exceeding RM10bil for GKinta over the proposed 21-year offtake period,” the companies said, adding that commercial operations are targeted for 2029.
GKinta is wholly owned by G3nerasi Mutiara Sdn Bhd, a joint venture between SD Guthrie Renewable Energy Sdn Bhd, Gamuda Energy Sdn Bhd and Gentari Renewables, which hold stakes of 33.5%, 33% and 33.5%, respectively.
The companies said the project would provide long-term recurring earnings visibility while expanding their presence in utility-scale renewable energy infrastructure and energy storage.
The project is expected to be funded through a combination of project financing and equity contributions from the consortium partners in proportion to their respective stakes.
The BESC and relevant agreements under CRESS are targeted for completion by the first quarter of 2027.
“The project will contribute positively to the revenue and earnings of Gamuda starting from the financial year ending July 31, 2027, Gamuda said.
SD Guthrie, meanwhile, said the project is expected to contribute positively to its future earnings following commercial operations, subject to the execution of definitive agreements, financial close and successful development and operation of the project.
