Samaiden Signs Long-Term Lease For Solar Project In Kelantan
KUALA LUMPUR, May 28 (Bernama)— Samaiden Group Bhd’s (Samaiden) wholly-owned unit, Samaiden Legasi Timur Sdn Bhd (SLTSB), has signed a long-term lease agreement with Perbadanan Kemajuan Iktisad Negeri Kelantan (PKINK) for the development of a large-scale solar photovoltaic (LSS) power plant under Malaysia’s LSS5 programme.
The renewable energy company said the lease agreement covers approximately 400 acres (162 hectares) of land in Pasir Mas, Kelantan, marking a major milestone for Samaiden.
“The land will be utilised to construct and operate a solar energy facility with a maximum export capacity of 99.99 megawatts of alternating current (MWac), to supply clean electricity to Tenaga Nasional Bhd (TNB) under a Power Purchase Agreement (PPA).
“The lease is for 23 years, inclusive of a two-year construction period, and will commence upon fulfilment of several conditions precedent, including the successful award of the LSS5 project by the Energy Commission and execution of the PPA with TNB,” it said in a statement.
Samaiden group managing director, Datuk Ir Chow Pui Hee, said the lease agreement with PKINK marked a major milestone in progressing its LSS5 solar project and aligns with Malaysia’s national targets to achieve 70 per cent renewable energy capacity by 2050 and reduce carbon intensity by 45 per cent by 2030.
“The site offers strategic advantages for solar development, and we deeply appreciate the strong support from the Kelantan state government in facilitating this initiative,” he said.
The lease agreement is expected to contribute positively to the local economy by creating job opportunities and fostering knowledge exchange in the renewable energy sector.
Samaiden said that by working closely with PKINK, it is helping to shape a greener future while contributing to regional development and the nation’s clean energy goals under the National Energy Transition Roadmap.
--BERNAMA