Tenaga Nasional Berhad appointed Solarvest’s subsidiary ABSB for the development of a 50WMac large-scale solar photovoltaic project at Bukit Selambau, Kedah.
The EPCC contract was awarded via the utility giant’s TNEC a wholly owned subsidiary and ABSB, through the project the ABSB is appointed by TNEC as the EPCC Sub-Contractor to undertake the Project for the design, engineering, erection, testing, commissioning and performance guarantee of the 50MWac solar farm facilities.
The contract sum of the Project is RM46.75 million payable to ABSB in accordance with the payment schedule based on the completed milestone of the Project as indicated in the EPCC Contract. ABSB shall perform the EPCC Works based on the timeline envisaged in the EPCC Sub-Contract. The Commercial Operation Date and Completion Date for the EPCC Works are expected to be on 31 December 2023, which is an extension from the date of 30 March 2023 as stipulated in the LOA.
The defect liability period for the EPCC Works shall be 24 months from the issuance of Taking Over Certificate by TNEC. ABSB shall provide an irrevocable Performance Bond in the form of a bank guarantee to TNEC as security for the due performance of ABSB’s obligations in carrying out the EPCC Works.
