Taliworks Corp Berhad, a Malaysian company completes the acquisition process of four solar power projects from TerraForm Global Operating LP and its three subsidiaries.
The four solar projects are located near Kuala Lumpur International Airport with an average capacity of 19 MWp. Taliworks also has acquired TerraForm Global Operating Sdn Bhd.
“Today marks a momentous day for Taliworks as we take a significant step to diversify our scope of activities into renewable energy,” said Executive Director, Datuk Ronnie Lim Yew Boon.
He said, “Additionally, the four solar projects will immediately serve as a reliable contributor to the group’s earnings and cashflow, as the projects are fully backed by renewable energy power purchase agreements with investment-grade off-takers.”
“This acquisition no doubt enhances Taliworks’ already strong financial footing and serves as a potential catalyst for stable growth, moving forward. With that said, Taliworks is very proud to be a player in the renewable energy sector, and we will work hard to continue our growth in this space,” he concluded.
Taliworks will be working diligently in the following weeks to complete the acquisition of the remaining minority economic interests. This maiden venture will be an important step to provide Taliworks with a solid platform to further expand into other renewable energy projects and establish Taliworks to become one of the prominent players in the renewable energy space.
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