Malaysia’s HeiTech Padu wins job for 150-MW Scatec solar portfolio

Malaysian technology services provider HeiTech Padu Bhd (KLSE:HTPADU) has won contracts worth MYR 75.2 million (USD 17.8m/EUR 15.1m) to build a high-voltage interconnection facility for 150 MW of solar parks owned by Oslo-based Scatec Solar ASA (OSL:SSO).

The Letter of Awards (LOA) are for three separate solar projects of 50 MW each in Gurun Kedah, Jasin Melaka and Merchang Terengganu, HeiTech Padu said in a bourse statement on Tuesday.

The three contracts were secured by its subsidiary Duta Technic Sdn Bhd (DTSB) and have values of between MYR 22 million and MYR 29.6 million. Under their terms, DTSB will provide engineering design solutions, involving civil and structural works and high-voltage electrical equipment, and installation services for underground cables and an overhead transmission line. The company will also be responsible for the manufacturing, testing, delivery, installation, construction and commissioning of the interconnectors.

The final acceptance date for the project is January 31, 2018. HeiTech noted that the deals will not have any material effect on the group’s net assets and dividend distribution for 2017 but will add to its future earnings.

(MYR 1 = USD 0.237/EUR 0.201)

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