KUALA LUMPUR: A consortium comprising Salcon Bhd and KAB Smart Solar Energy Sdn Bhd (KSSE) has been selected as one of the Corporate Green Power Programme (CGPP) solar power producer.
According to Kinergy Advancement Berhad (KAB), in a filing with Bursa Malaysia, the consortium has been awarded the solar power producer under the CGPP, with an export capacity allotment of seven MWac in Sungai Siput, Perak.
Presently, 563.42 MWac has been awarded to 22 applicants, of which the remainder, 236.58 MWac, has yet to be assigned.
"We are proud to be one of the 22 entities selected as the solar power producer under the CGPP. This is a testament to our solar photovoltaic portfolio strength in line with the growth strategy of our sustainable energy solutions (SES) segment," said Datuk Lai Keng Onn, executive deputy chairman and cum group managing director of KAB.
"Given our position in the sustainable energy industry, we believe that there are ample opportunities ahead in the solar energy industry where we will be able to replicate our success by leveraging on our experience and proven track record in the SES segment," he said.
Lai believes that this business direction will contribute to the company's goal to accelerate its SES segment and further enhance its long-term earnings profile.
According to the filing, KSSE has the right of first refusal for the EPCC (engineering, procurement, construction, and commissioning) and/or O&M (operation and maintenance) services given its experience and prowess in the solar energy industry, which is further bolstered by KAB's extensive expertise and demonstrated success in the SES segment.
KSSE is a wholly-owned subsidiary of KAB.