8 hours Ago By Business Times
KUALA LUMPUR: AIZO Group Bhd, formerly known as Minetech Resources Bhd, says its 63 per cent-owned Wawasan Demi Sdn Bhd has formalised a power purchase agreement (PPA) with Tenaga Nasional Bhd (TNB) for the development of a 99.99 MWac large scale solar photovoltaic (LSS) facility in Kampar, Perak.This follows the earlier acceptance of the Letter of Notification from the Energy Commission on Jan 6 2025, designating Wawasan Demi as the project developer under the national LSS programme.
Under the PPA, Wawasan Demi will design, construct, own, operate and maintain the solar photovoltaic energy generating facility, with electricity to be supplied to TNB's grid system."The PPA represents a major step forward in the realisation of one of AIZO's largest clean energy undertakings to date," it said today.The project will be financed through a combination of internally generated funds and/or bank borrowings.
The 99.99 MWac Kampar solar facility is poised to become a significant contributor toAIZO's long-term earnings, while further reinforcing its presence in Malaysia's clean energy space.AIZO executive chairman Datuk Abang Abdillah Izzarim said the project further solidifies its position as a growing force in the renewable energy sector.
It complements AIZO's established presence in civil engineering, infrastructure and bituminous products."It also reinforces the group's long-term vision of sustainable, diversified growth through strategic investments in high-impact sectors," he added.© New Straits Times Press (M) Bhd.
