Solarvest Holdings Berhad has signed power purchase agreements (PPA) with Tenaga Nasional Berhad (TNB) for the sale of electricity from its three shortlisted large-scale solar projects (LSS) under the LSS@Mentari program.
The signing of the contract officiates the 21-year solar electricity deal, whereby TNB will be the off-taker of the electricity generated by Solarvest’s LSS plants across two states with a cumulative capacity of 50 megawatts (MW). Among the three LSS plants, the largest solar farm has a capacity of 25 MW which will be based in Manjung, Perak. This is followed by a 13 MW solar farm to be constructed in Kuala Selangor and another 12 MW solar farm in Manjung, Perak.
Upon the signing of the PPA, Solarvest will work towards obtaining financing and the necessary approvals by the end of 2021. Construction activities for the solar plants are expected to commence in early 2022. The three plants are scheduled to begin commercial operation between 2022 and 2023.
