Metronic Global Berhad, a Malaysian engineering firm, announced on January 13 that its majority owned subsidiary Sinaran PPA Sdn Bhd would construct over 4 MWp of solar PV facilities under power purchase agreements (PPAs) with Wang You, an investment holding company, and Technology PP, a plastics producer. Sinaran PPA will be responsible for developing, financing, building, commissioning, operating, and maintaining solar PV farms for the clients.
Sinaran PPA's main businesses include solar investing, project financing consulting, and general trading. Sinaran PPA's plan for Wang You is to build a 1-MWp plant on a piece of industrial land in Gurun, a town in Malaysia's state of Kedah. As for Technology PP, Sinaran PPA will construct a 3.121-MWp solar farm at an industrial location in Sungai Petani, Kedah.
The tariffs for both off-take contracts are set at MYR 0.23 (USD 0.055/EUR 0.048) per kWh and will operate for 25 years from the commercial operation date (COD). According to Metronic in a filing with Bursa Malaysia, customers can also request the transfer of ownership of the solar farms to them starting the third year from COD.
