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JAKS Resources consortium secures LSSPV plant development contracts in Terengganu

The Star·09/04/2025 05:14:00
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KUALA LUMPUR: A subsidiary of JAKS Resources Bhd in partnership with China Power Engineering Consulting Group International Engineering Co Ltd (CPEEC) has secured two contracts for the development of two large scale solar photovoltaic plants of 99.99MW each in Setiu, Terengganu.

In a bourse filing, JAKS Resources said its unit, JAKS Solar Power Holdings Sdn Bhd, in consortium with CPEEC shall incorporate a special purpose company to enter into a solar power purchase agreement with Tenaga Nasional Bhd for the projects for 21 years.

It said the projects will be financed through internally generated funds and bank borrowings.

Barring any unforeseen circumstances, the projects are expected to contribute positively towards the future earnings of JAKS Resources, it said.