Widad inks MoC on photovoltaic plant management project - MIDA | Malaysian Investment Development Authority
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Widad inks MoC on photovoltaic plant management project

Widad inks MoC on photovoltaic plant management project

03 Feb 2021

KUALA LUMPUR, Feb 3 — Widad Group Bhd (Widad) has inked a memorandum of collaboration (MoC) with Motion Ventures Sdn Bhd (MVSB) in relation to the facility management of a large-scale photovoltaic plants project in Sungkai, Perak, as well as 66 community solar projects.

In a filing with Bursa Malaysia today, Widad said MVSB has submitted its bid for the 1,000-megawatt photovoltaic plants project to the relevant authorities and is currently awaiting the appointment and/or the bidding outcome.

“The MoC shall be effective for a period of 12 months upon the execution by both parties and may be mutually extended or terminated in the event the project is not awarded and/or terminated by the government and/or local authorities,” it said.

According to the filing, MVSB owns and operates 66 community solar projects in Malaysia, where the electricity generated from the community solar projects is supplied into the grid via the Renewable Energy Power Purchase Agreement.

Widad said the collaboration is expected to enhance its integrated facilities management service offerings and contribute positively to its revenue.

Source: Bernama