Sinaran PPA Sdn Bhd, a majority owned subsidiary of Metronic Global Bhd (MTRONIC), will build over 4 MWp of solar photovoltaic (PV) plants in Malaysia under power purchase agreements (PPAs) it had secured with Wang You, an investment holdings company and Technology PP, a plastics manufacturer.
Under the PPAs secured, Sinaran PPA will develop, finance, build, commission, own, operate and maintain both of the solar PV farm for each of the customers. For Wang You, Sinaran PPA will build a 1 MWp plant on a piece of industrial land located in Kedah. Sinaran PPA agreed with Technology PP to build a 3.121 MWp solar farm at an industrial site in the city of Sungai Petani in Kedah.
Both of PPAs are valid for a period of 25 years from the commercial operation date (COD), while the tariffs are set for RM0.23 per kWh. Under the agreement, the customers also have the option to request the transfer of ownership of the solar farms to them from the third year from COD.