Solarvest Holdings Bhd and Press Metal Aluminium Holdings Bhd will co-develop a 100MWac solar photovoltaic plant in Mukah, Sarawak, with an estimated investment of RM380 million. Mukah is a coastal town located in the Malaysian state of Sarawak, on the island of Borneo, by the South China Sea.
In separate Bursa Malaysia filings, the partners said their joint venture, Mukah Solar Powerplant Sdn Bhd (MSPSB), has signed a power purchase agreement with Syarikat Sesco Bhd to build and operate the facility, targeted to commence operations by November 30, 2027.
“At the state level, the Mukah Solar PV Plant contributes to Sarawak state’s target of achieving 10 gigawatts of renewable generation capacity by 2030, a key goal under Sarawak’s Energy Transition Strategy (SET-P) and the Post-COVID-19 Development Strategy 2030. It also aligns with the state’s ambition to build a low-carbon, secure, and inclusive energy future, furthering its vision of becoming the Asean Green Energy Hub,” said Press Metal Group CEO Tan Sri Paul Koon Poh Keong.
Solarvest holds 60 per cent of MSPSB, and Press Metal holds the remainder. The project will be primarily financed via bank borrowings at MSPSB, with both companies contributing equity from internally generated funds. Press Metal Group CEO Tan Sri Paul Koon Poh Keong said the venture represents the company’s first participation in a large-scale solar project.
Solarvest executive director and group chief strategy officer Leon Liew Chee Ing said the project enhances the company’s footprint in Sarawak’s EPCC market and further boosts its order book.
He added that the project is expected to create approximately 1,500 to 2,000 direct and indirect job opportunities for local workers during the construction and operational phases, bringing tangible benefits to the local community. This project reinforces Press Metal’s efforts to advance renewable energy adoption and minimise environmental impact, in line with our aspiration for a greener world. Our unwavering commitment to a sustainable future and transition towards a low-carbon economy remains steadfast.”
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