Friday 29 Mar 2024
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KUALA LUMPUR (April 12): Malakoff Corp Bhd has bagged an operation and maintenance (O&M) contract with a large scale solar photovoltaic power plant (LSS) in Kota Tinggi, Johor, with a capacity of 29MWac.

The contract value was not disclosed.

Malakoff chief executive officer Datul Ahmad Fuaad Kenali said the contract marks the group's first foray into the O&M of renewable energy assets.

"[This] also means that our O&M business has now expanded to include both thermal, or conventional, and renewable energy power generation," he said in a statement today.

Malakoff's wholly-owned subsidiary Teknik Janakuasa Sdn Bhd (TJSB) in a consortium with Zelleco Engineering Sdn Bhd, has signed an O&M agreement with ZEC Solar Sdn Bhd, which had secured the project via the first round of LSS competitive tender issued by the Energy Commission.

The main scope of the O&M agreement, which is for a period of 21 years starting from December 2018, is to perform and provide services in relation to the operation, maintenance and repair of the solar plant.

The TJSB-Zelleco consortium will incorporate a special purpose O&M company to carry out its services and obligations under the agreement. The company is obliged to meet the standard performance guarantee for the solar PV plant’s operation.

TJSB currently operates and maintains six power plants in Malaysia and three overseas.

Malakoff shares closed unchanged at 90 sen today with a market capitalisation of RM4.45 billion.

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