KUALA LUMPUR (Oct 2): Renewable energy specialist Samaiden Group Bhd (KL:SAMAIDEN) has bagged a RM39.17 million contract to undertake a 10-megawatt large-scale solar photovoltaic power plant in Bahau, Negeri Sembilan, in a related-party transaction.
The contract was awarded by Bahau Power Sdn Bhd, which is owned by Angelaxy Power Sdn Bhd (51%) and Uzma Environergy Sdn Bhd (49%), said Samaiden in a bourse filing on Tuesday.
Angelaxy is wholly owned by Samaiden managing director Datuk Chow Pui Hee, while Uzma Environergy is a wholly owned unit of Uzma Bhd (KL:UZMA).
Bahau Power is involved in renewable energy generation through the harvesting of solar energy for electricity production
The scheduled commercial operation date of the plant is Sept 15, 2025, said Samaiden.
Samaiden’s share price closed down two sen or 1.9% at RM1.03, giving the group a market capitalisation of RM431 million.
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