KUALA LUMPUR (March 3): Tenaga Nasional Bhd (TNB) has signed a large-scale solar (LSS) power purchase agreement (PPA) with a private firm that will design, construct, own, operate and maintain a 50MWac solar photovoltaic energy generating facility in Rembau, Negeri Sembilan.

Tenaga said the PPA was signed with Solar Management (Seremban) Sdn Bhd (SMSSB), a wholly-owned unit of Solar Management (Chembong) Sdn Bhd.

The agreement was inked following the award of the transmission-connected LSS projects to seven successful bidders, said TNB, which was organised by the EC in 2016 to develop, among others, the said projects.

The PPA, which has an expected commercial operation date of Nov 30, 2018, governs the obligations of the parties to sell and purchase the energy generated by the facility for 21 years from the commercial operation date.

TNB said the PPA would not impact its issued and paid-up share capital and the substantial shareholders’ stakes in the company, and would have a neutral impact on the earnings of TNB over the term of the PPA.

At closing, TNB rose four sen or 0.29% to RM13.62, valuing it at RM77 billion.