Gadang subsidiary secures PPA for 5.9-MW solar park in Malaysia

An indirect majority-owned unit of investment holding company Gadang Holdings Berhad (KLSE:GADANG) has inked a power purchase agreement (PPA) tied to the construction of a 5.9-MW solar power plant in Malaysia.

Gadang announced this on Wednesday, saying that its 70%-owned subsidiary Nusantara Suriamas Sdn Bhd (NSSB) will design, build, test, commission, own, operate and maintain the solar power facility in Tawau, Sabah.

The plant will be connected to the medium-voltage distribution network of Sabah Electricity Sdn Bhd (SESB), the counterparty to the contract, at PPU Sri Indah.

The PPA has a term of 21 years and will become effective once the solar park reaches its commercial operation date, planned for June 30, 2023, at the latest.

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