Hatten Land Limited (Hatten Land) and Nestcon Bhd have formed a joint venture (JV) to procure, build, develop, supply, and operate solar panel facilities in Malaysia. The companies will undertake renewable energy (RE) projects under the JV agreement, including the installation of approximately 6,000 solar panels on the top of Hatten Group’s Dataran Pahlawan Melaka Megamall in Melaka.
This project is scheduled for completion in 2022 and is expected to have generation capacity of around 3,900 MWh annually. The rooftop project will be managed by the JV for a period of 21 years. Meanwhile, it will work with other possible partners to procure, supply, construct, and manage large-scale solar photovoltaic (PV) plants in Malaysia, with a peak capacity of 100 MW.
Hatten Renewable Energy, Hatten Land’s wholly owned subsidiary, will own a 30 per cent stake in the JV entity, while Nestcon Sustainable Solutions, a wholly owned subsidiary of Nestcon’s, and/or its nominees will own the remaining 70 per cent.