KUALA LUMPUR (Oct 3): Malakoff Corp Bhd (KL:MALAKOF) said on Friday that its unit has signed a 30-year power purchase agreement (PPA) to develop and operate a 100MWac solar photovoltaic plant in Bintulu, Sarawak.

In a bourse filing, the group said the agreement was signed between its 70%-owned subsidiary, Malakoff Evergreen Sdn Bhd (MEVSB), and state utility firm Syarikat SESCO Bhd.

MEVSB is a special-purpose vehicle jointly owned by Malakoff’s wholly-owned Tuah Utama Sdn Bhd (70%) and EE Solar Sdn Bhd (30%).

Under the deal, MEVSB will design, construct, own and operate the facility, which is scheduled to begin commercial operations on May 1, 2028.

SESCO will purchase the net energy output of up to 242,160.46MWh annually throughout the term of the PPA.

In a statement, Malakoff group chief executive officer Syahrunizam Samsudin said the latest deal marks another milestone in the group’s renewable energy (RE) expansion.

“With the recent award of the 470MW large-scale solar 5+ project and the planned 100MW facility in Bintulu, our RE capacity now stands at 768MW,” he said.

He added that the expansion not only supports Malaysia’s clean energy transition — equivalent to offsetting 11.1 million tonnes of carbon emissions annually — but also strengthens the nation’s long-term energy security.

At the midday break on Friday, shares in Malakoff slipped one sen or 0.9% to RM1.10, valuing the group at RM5.5 billion.