Tuesday 23 Apr 2024
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KUALA LUMPUR (Dec 21): Tenaga Nasional Bhd (TNB), Mudajaya Group Bhd, Malakoff Corp Bhd and Integrated Logistics Bhd (ILB) have won separate contracts from the government to build four large scale solar photovoltaic (LSSPV) plants in Selangor, Perak and Kedah under a build, own and operate (BOO) arrangement.

In a filing with Bursa Malaysia today, TNB said it has received a letter of acceptance of offer from the Energy Commission (EC) to build a 50MW LSSPV plant in Kuala Langat, Selangor, following a competitive bid process.

"The letter requires TNB to satisfy certain obligations, including completion of negotiations and execution of project documents prior to the EC issuing the formal letter of award for the project," added TNB.

In a separate filing, Mudajaya said its wholly-owned subsidiary Mudajaya Corp Bhd has also accepted a letter of acceptance of offer from the EC to build a 49MW LSSPV plant in Sungai Siput, Kuala Kangsar, Perak.

The RM270 million award is expected to be finalised by February 2017, with the construction period to last 18 months.

"The project is expected to contribute positively to the earnings of the group for the financial year ending 2018 onwards," said Mudajaya.

Malakoff, in a consortium with DRB-Hicom Bhd, also received a letter of acceptance from the EC to build a 50MW LSSPV plant in Tanjung Malim, Perak, following a competitive bidding exercise.

Malakoff has a 51% stake in the consortium while DRB-Hicom  holds the remaining 49%.

"The project involves financing, design, supply, build, own, operate and maintain (the LSSPV) plant on a BOO basis, with the expected commercial operation date on July 1, 2018 for a term of 21 years under the power purchase agreement," said Malakoff.

Meanwhile, ILB said its unit IL Solar Sdn Bhd has received a letter of acceptance from the EC to build a 10MW LSSPV plant in Bandar Bukit Kayu Hitam, Kedah.

At 3.30pm, TNB shares were traded up four sen or 0.29% at RM13.76, with 7.1 million shares done, while Mudajaya shares were up 7.5 sen or 8.67% at 94 sen, with 2.12 million shares done.

At the same time, shares in Malakoff were down two sen or 1.4% at RM1.41 with 1.28 million shares changing hands, while ILB's share price fell one sen or 1.12% to 88 sen, with 14,000 shares traded.

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