KUALA LUMPUR (Jan 3): Meta Bright Group Bhd's conditional invitation for the Majlis Perbandaran Kemaman (MPK) to participate in the Solar PV Without Capex Program at Kijal Mall, Terengganu, has been accepted by the municipal council.

According to the filing, the group's conditional offer letter to the municipality encompasses the design, financing, installation, construction, commissioning, operation, and maintenance of the 407.8 kilowatts peak (kWp) solar photovoltaic (PV) generating plants on the premises owned by the municipal council.

The group said that the programme has a 20-year duration from the operational date of the solar PV generating plants, and the municipal council will purchase the renewable electricity generated by the plants at a fixed solar tariff rate of 36 sen per kWh.

In a statement, Meta Bright said that the offer letter would increase the group's order book related to sustainable renewable energy solutions to 3.81MW, marking a 12% increase in the total order book size.

Meta Bright’s executive director of corporate & strategic planning Derek Phang Kiew Lim expressed gratitude for the trust placed in the group by the municipal council, as the group's proposal is both innovative and cost-effective, based on their technical expertise and a track record of delivering projects on time and in full.

Phang said that further studies would be conducted to ensure feasibility, and once the project is confirmed, the team will diligently work towards delivering on the group's promises within the agreed-upon deadline with the municipal council.

As of the noon break on Wednesday, Meta Bright's share price remained unchanged at 20 sen, valuing the group at RM478.64 million.