Metronic World Berhad, an engineering firm in Malaysia signs a power purchase agreement (PPA) with Technology PP Industries (Northern) Sdn Bh and Sinaran PPA to will build a 4 MWp photovoltaic project. The PPAs were signed for 25 years duration and tariffs would be MYR 0.23 (USD 0.055/EUR 0.048) per kWh.
Sinaran PPA which is 70% owned by Metronic World will build a 3121 kWp PV plant in the Sungai Petani in Kedah and will design, develop, finance, construct, commission, operate, own, and maintain the Solar PV project to deliver to Technology PP.
“Subject to the fulfillment or waiver of the conditions precedent for the construction and installation of the facility and the commercial operation of the facility, the SPPA shall take effect for 25 years from the commercial operation date of the facility,” the group said.
Sinaran PPA also signed a PPA with Wang You Polymer Industries Sdn Bhd to Sinaran PPA which is 70% owned by Metronic World will build a 3121 kWp PV plant in the Sungai Petani in Kedah and will design, develop, finance, construct, commission, operate, own, and maintain the Solar PV project of 1000 kWp in the city of Gurun, Kedah.
Metronic Global Berhad was incorporated in Malaysia under the Companies Act, 1965 on 22 October 2003. The Company was listed on MESDAQ Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 24 May 2004 and subsequently transferred to the Main Board (now known as Main Market) of Bursa Securities on 12 July 2007.
