PETALING JAYA: Malakoff Corporation Bhd has fulfilled all conditions precedent under the share sale and purchase agreement (SSPA) for the acquisition ...
Malakoff Corporation Bhd has fulfilled all conditions precedent under the share sale and purchase agreement for the acquisition of 22,393,389 ordinary shares, representing a 51% equity interest, in Zec Solar Sdn Bhd, and 49,000 ordinary shares, representing a 49% equity interest, in TJZ Suria Sdn Bhd.
Zec Solar is the owner and developer of a large-scale solar facility with a capacity of 29 MWac in Kota Tinggi, Johor under the country’s LSS programme with a 21-year solar power purchase agreement effective until 2040. Malakoff managing director and group CEO Anwar Syahrin Abdul Ajib said: “This expansion will significantly enhance Malakoff’s technical capabilities, bringing the total of Malakoff’s installed RE capacity to 159MW. It also provides a reference plant to meet the requirements of future LSS bidding exercises, both domestically and internationally.”
Additionally, the company secured SPPAs with major industry players such as DRB-Hicom Group, UMW Group, Railway Assets Corporation, and Keretapi Tanah Melayu Bhd.
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