Malakoff Expands Renewable Energy Portfolio in Malaysia
- Malakoff Corp Bhd boosts renewable energy capacity with stakes in two Malaysian companies, solidifying its position in the green energy market.
Malaysian energy group Malakoff Corp Bhd has announced a deal to acquire stakes in two domestic companies, increasing its effective renewable energy capacity to 128 MW. The company will pay Zelleco Engineering Sdn Bhd MYR 27 million for the two stakes. Malakoff will acquire a 51% stake in ZEC Solar Sdn Bhd, a Malaysian solar developer with a 29-MW photovoltaic project in Johor state. The company also plans to purchase 49% of power plant operator TJZ Suria Sdn Bhd.
The acquisition will give Malakoff a 15 MW ownership in the PV project and control over the operations and maintenance of the ZEC Solar PV farm. Once finalized, ZEC Solar and TJZ Suria will become subsidiaries of Malakoff, further expanding the company's presence in the renewable energy sector.
What Malaysian energy group is acquiring stakes in two domestic companies for renewable energy?
- Malaysian energy group Malakoff Corp Bhd is acquiring stakes in two domestic companies for renewable energy
- Malakoff will pay Zelleco Engineering Sdn Bhd MYR 27 million for the two stakes
- Malakoff will acquire a 51% stake in ZEC Solar Sdn Bhd, a Malaysian solar developer with a 29-MW photovoltaic project in Johor state
- The company also plans to purchase 49% of power plant operator TJZ Suria Sdn Bhd
- The acquisition will increase Malakoff's effective renewable energy capacity to 128 MW
- Malakoff will have a 15 MW ownership in the PV project and control over the operations and maintenance of the ZEC Solar PV farm
- Once finalized, ZEC Solar and TJZ Suria will become subsidiaries of Malakoff, expanding the company's presence in the renewable energy sector.