Malaysia's Pekat Group signs 5 offtake contracts for new solar park

Malaysian solar photovoltaics (PV) installer Pekat Group Bhd (KLSE:PEKAT) said today that one of its units has entered into green power agreements with five local corporations, which will be buying electricity from a new solar park.

The counterparties to the contracts are CTRM Aero Composites Sdn Bhd, HICOM Automotive Manufacturers (Malaysia) Sdn Bhd, HICOM Diecastings Sdn Bhd, Motosikal dan Enjin Nasional Sdn Bhd and PHN Industry Sdn Bhd.

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The contracts are tied to the development of a 30-MW solar project in Kinta District in the state of Perak.

The developer, Pekat Solar Tronoh Sdn Bhd (PSTSB), has committed to putting the solar power plant into operation no later than 2025. PSTSB was selected to build the facility in a competitive bidding process under the Corporate Green Power Programme (CGPP) of the Energy Commission.