KUALA LUMPUR: Solarvest Holdings Bhd’s 30% owned subsidiary, Selarong Pertama Energy Sdn Bhd (SPESB), has received approval from Tenaga Nasional Bhd (TNB) to operate as a merchant generator.
SPESB will be permitted to sell electricity to the single buyer, with a capacity of 29.99 megawatts (MWac), through a solar facility located in Kulim, Kedah.
In an announcement to Bursa Malaysia today, Solarvest confirmed that SPESB has signed the New Enhanced Dispatch Agreement (NEDA) connection agreement with TNB, effective November 7, 2024.
The company noted that the board views the signing of the NEDA agreement as a positive development for Solarvest. Under the agreement, SPESB is tasked with the construction, ownership, operation, and maintenance of a solar photovoltaic energy generating facility, with an export capacity of 29.99 MWac.
The clean energy generated will be sold virtually to Micron Semiconductor Malaysia Sdn Bhd under a separate corporate green power agreement.
Furthermore, TNB will facilitate SPESB’s access to its bulk power network to supply the energy generated, in line with the Energy Commission’s NEDA guidelines and the terms of the signed agreement.
This approval marks a significant step for Solarvest’s subsidiary in contributing to Malaysia’s renewable energy sector.
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