Image: Asia Chang, Unsplash
Malakoff Corporation Berhad, a Kuala Lumpur-based energy firm, has signed a conditional sale and buy settlement with Malaysian engineering firm Zelleco Engineering to accumulate two corporations.
Under the phrases of the settlement, Malakoff will purchase greater than 22.3 million unusual shares in photo voltaic developer ZEC Solar, representing 51% of its whole fairness. It will even purchase 49,000 unusual shares of TJZ Suria, representing 49% of its whole fairness. Malaysian media experiences counsel the deal could also be value MYR 27 million ($5.76 million).
Malakoff CEO and Managing Director Encik Anwar Syahrin Abdul Ajib stated the acquisition will add a further 15 MW of photo voltaic capability to the corporate’s portfolio, bringing the overall put in renewable capability to 168 MW.
ZEC Solar owns and operates a 29 MW photo voltaic facility in Kota Tinggi, southern Malaysia, with a 21-year energy buy settlement efficient till 2040.
“This growth will drastically improve Malakoff’s technical capabilities and supply a reference plant to satisfy the necessities of future large-scale photo voltaic bidding workout routines, each inside and out of doors the nation,” stated Ajib. “This is a testomony to our dedication to contribute to the nation’s goal of reaching the net-zero emissions as early as 2050 and enhance renewable vitality capability by as much as 70% in the identical interval, selling a greener future.”
In October 2023, Malakoff signed an settlement with MMC Group to provide 500 MW of photo voltaic to Malaysia. The cumulative PV installations within the nation stood at 1933 MW by the tip of 2023, in accordance with figures from the International Renewable Energy Agency (IRENA).
This content material is protected by copyright and will not be reused. If you need to cooperate with us and need to reuse a few of our content material, please contact: [email protected].
