Bina Puri Signs PPA To Kick Off Its First Power Project In Malaysia

Bina Puri Holdings Bhd announced today that its wholly-owned subsidiary BP Energy Sdn Bhd had signed a Power Purchase Agreement (PPA) with Sabah Electricity Sdn Bhd (SESB) dated December 1, 2021, to undertake a development of a 5.00 MWa.c. Large Scale Solar Photovoltaic (PV) Plant in Kunak, Sabah. The Commercial Operation Date is scheduled for June 2023.

A filing with Bursa Malaysia showed that BP Energy will design, construct, test, commission, own, operate and maintain a solar photovoltaic energy generating facility with a capacity of 5.00MWa.c. to be located at Lot NT 243021423 & Lot NT 243021445 Kg Dasar, Kunak, Sabah for connection to SESB’s medium voltage Distribution Network at PMU Kunak. The PPA contractual term will be for 21 years from the Commercial Operation Date.

Commenting on the latest development of the project, Bina Puri Group Executive Director, Datuk Matthew Tee Kai Woon said: “After 4 years of receiving the Letter of Acceptance of Offer for this project from Suruhanjaya Tenaga (ST) we have finally signed the PPA. Out of ten companies that were awarded under LSS2 in Sabah, Bina Puri is the first company to sign the PPA with SESB. This marks an important milestone for the Group as this is Bina Puri’s first power project in Malaysia, following the successful listing of our power subsidiary in June 2017 at the Indonesia Stock Exchange.”

“We look forward to contributing to our own nation using renewable energy solutions which is in line with the Government’s efforts to create a more sustainable and green future. With this announcement, we hope to secure more power projects in Malaysia especially in Sabah as we also have a strong presence in other sectors such as construction and property development,” he elaborated.

On June 5, 2017, Bina Puri’s power unit, PT Megapower Makmur (MPOW), an independent power producer was listed on Indonesia Stock Exchange, IDX. MPOW is operating four diesel power plants with a capacity of 14.0 megawatts at four (4) locations throughout Indonesia and a 4.2 megawatts mini-hydro plant at Sulawesi Selatan, Indonesia. Bina Puri is the first Non-Government Linked Company (Non-GLC) successfully listed on the Indonesia Stock Exchange (IDX).

Bina Puri has also supported green energy initiatives by installing solar panels along the KL-Kuala Selangor Expressway (LATAR) to reduce energy costs under an arrangement with Tenaga Nasional Berhad. The solar panels were mounted on useable rooftops and on the designated land area with a combined capacity of 413.60kWp.

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