Saturday, 04 Jul 2020
30/06/2020 12:05 AM

KUALA LUMPUR, June 29 -- Tenaga Nasional Bhd (TNB) today signed two large-scale solar (LSS) photovoltaic power purchase agreements (PPAs) with special purpose companies Coara Marang Sdn Bhd and Kerian Solar Sdn Bhd.

The two companies, which represented the winners in the LSS Phase 3 competitive bidding exercise organised by the Energy Commission in the first quarter of last year, would design, construct, own, operate and maintain a solar photovoltaic energy generating facility with 100 MWAC capacity each, the utility giant said in a filing with Bursa Malaysia today.

Coara Marang, owned by Coara Solar Sdn Bhd and ib vogt GmbH, will locate its facility in Marang, Terengganu (scheduled commercial operation date: Nov 15, 2021), while Kerian Solar -- comprising TTL Energy Sdn Bhd and ENGIE Energie Services SA, will operate in Kerian, Perak (Dec 31, 2021). 

TNB said the signing of the PPAs would not have any effect on its issued and paid-up share capital and the major shareholders’ shareholdings.

“It will have a neutral impact on TNB’s earnings over the term of the PPAs since the generation cost is fully passed-through under the Incentive-Based Regulation (IBR) mechanism,” it added.

-- BERNAMA



 

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