January 14 (Renewables Now) – Malaysian engineering company Metronic Global Berhad (KLSE:MTRONIC) said on Thursday that its majority-owned subsidiary would build over 4 MWp of solar PV plants under power purchase agreements (PPAs) it had secured with two corporate customers.
The group said its 70%-owned unit Sinaran PPA Sdn Bhd had signed contracts with investment holdings company Wang You and plastics manufacturer Technology PP to develop, finance, build, commission, own, operate and maintain one solar PV farm for each of the customers.
For Wang You, Sinaran PPA is to build a 1-MWp plant on a piece of industrial land located in the town of Gurun in the Malaysian state of Kedah.
Sinaran PPA agreed with Technology PP to build it a 3.121-MWp solar farm at an industrial site in the city of Sungai Petani in Kedah.
Both off-take contracts will run for 25 years from the commercial operation date (COD), while the tariffs are set for MYR 0.23 (USD 0.055/EUR 0.048) per kWh. Under the agreement, the customers also have the option to request the transfer of ownership of the solar farms to them from the third year from COD, Metronic said in a filing with Bursa Malaysia.
Sinaran PPA’s principal activities are solar investment, project financing consultancy and general trading.
(MYR 1.0 = USD 0.239/EUR 0.209)