TNB signs so­lar power pur­chase deals with 3 firms

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Te­naga Na­sional Bhd (TNB) has signed three power pur­chase agree­ments (PPAs) with spe­cial pur­pose com­pa­nies set up by the con­sor­tium of ItraMAS Tech­nol­ogy, Mal­tech Pro and Cam-Lite.

The con­sor­tium was awarded a con­tract by the Min­istry of En­ergy, Green Tech­nol­ogy & Wa­ter to de­velop 3x50MW so­lar projects at Jasin, Malacca; Gu­run, Kedah and Mer­chang, Terengganu.

TNB ex­e­cuted sep­a­rate PPAs with Quan­tum So­lar Park (Malacca) Sdn Bhd, Quan­tum So­lar Park (Kedah) Sdn Bhd and Quan­tum So­lar Park (Terengganu) Sdn Bhd.

“Each of the com­pa­nies will con­struct, own, op­er­ate and main­tain a so­lar pho­to­voltaic en­ergy gen­er­at­ing fa­cil­ity with a ca­pac­ity of 50 megawatts al­ter­nate cur­rent (MWac) at its spec­i­fied lo­ca­tion,” TNB said in a stock ex­change fil­ing.

Each PPA, which has an ex­pected com­mer­cial op­er­a­tion date of Dec 31, 2017, gov­erns the obli­ga­tions of the par­ties to sell and pur­chase the en­ergy gen­er­ated by the fa­cil­ity for a pe­riod of 21 years from the com­mer­cial op­er­a­tion date in ac­cor­dance with the agreed terms and con­di­tions.

The sign­ing of the PPAs will not have any ef­fect on the is­sued and paid-up share cap­i­tal and the sub­stan­tial share­hold­ers’ share­hold­ings of TNB and will have neu­tral im­pact on the earn­ings of TNB over the term of the PPAs.

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