Gadang Holdings Berhad signs a power purchase agreement (PPA) for building a 5.9 MW solar plant in Malaysia. Gadang signed the PPA for the duration of 21 years.
Gadang is an investment holding company while its subsidiaries are principally involved in civil engineering and construction, property development, water supply, and mechanical & electrical engineering services.
Gadang Holdings Berhad was incorporated in Malaysia on 6 October 1993 as a public limited company under the name Lai Sing Holdings Berhad. It was listed on the second board of Bursa Malaysia Securities Berhad on 2 September 1994 under the construction sector.
Nusantara Suriamas Sdn Bhd (NSSB), a 70% owned subsidiary of Gadang will build, design, own, operate, commission, test, and maintain the solar power plant unit in Tawau, Sabah.
With the Sabah Electricity Sdn Bhd (SESB), which is a medium-voltage distribution network, the plant will be connected. The PPA will be effective after the plant will reach the commercial operation date which is scheduled for 30th June 2023.