Malakoff expands RE portfolio by 15 MW after recent acquisitions in Malaysia

Malakoff Corporation Bhd has entered into a conditional Share Sale and Purchase Agreement (SSPA) with Zelleco Engineering Sdn Bhd to acquire a 51 per cent stake in ZEC Solar Sdn Bhd and a 49 per cent stake in TJZ Suria Sdn Bhd. The acquisition is expected to optimise operational costs through resource synergies and economies of scale.

ZEC Solar owns a 29 MW Large Scale Solar facility in Kota Tinggi, Johor, operating under a 21-year Solar Power Purchase Agreement until 2040. The acquisition aligns with Malakoff’s commitment to green growth under the National Energy Transition Roadmap (NETR).

Additionally, the recent acquisition will add 15 MW of solar capacity to Malakoff’s portfolio, increasing its total installed renewable energy capacity to 168 MW.