KPower gets four-year PPA extension for 50MW solar project
KUALA LUMPUR: KPower Bhd’s subsidiary PKNP KPower Suria Sdn Bhd (PKSSB) has obtained an extension from the Energy Commission (EC) for the development of 50MW solar photovoltaic plant in Pahang.
In a filing with Bursa Malaysia, KPower said the EC had vide their letter extended the final closing date from June 30 to Sept 30, 2022.
KPower said the scheduled commercial operation date had been extended to Dec 31, 2023, from Sept 30, 2023 while the tenure of the power purchase agreement (PPA) was from 21 years to 25 years.,
“PKSSB will execute a supplemental agreement with Tenaga Nasional Bhd to effect the aforesaid terms, where relevant, in the PPA.
“The board is of the opinion that the extension of time is in the best interest of the company,” it said.