Nestcon Secures Large Scale Solar Plant Project In Sabah
KUALA LUMPUR, Dec 24 (Bernama) -- Nestcon Bhd’s wholly owned subsidiary, Nestcon Infra Sdn Bhd is set to develop a large-scale solar photovoltaic plant (LSSPV) with 14.99 megawatts of alternating current (MWac) in Bongawan, Kimanis, Sabah.
In a filing with Bursa Malaysia, Nestcon said its unit had received a notification letter from the Energy Commission of Sabah (ECOS) on Dec 19, 2024.
It said the LSSPV will operate under a 25-year power purchase agreement (PPA) and the commercial operation date shall not be later than Nov 30, 2026.
“Additionally, the project is to meet certain timeline requirements, including the timing of executing the PPA, the timing of achieving the financial close, and the submission of a commitment bond to ECOS to the project,” Nestcon said.
The company said the project will be financed through internally generated funds and bank borrowings, adding that it is expected to contribute positively to the net assets per share, earnings per share and gearing of the company throughout the duration of the project.
-- BERNAMA