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Tex Cycle Technology Bhd has entered into a joint venture agreement with Thailand’s Bothong Rubber Fund Cooperative Ltd. for developing solar photovoltaic system.
The value of the PPA (extrapolated based on estimated total revenue over 20 years) is THB92.9 million. The expected commercial operation date of the solar photovoltaic energy generating system will be in January 2023.
The risk factors affecting the PPA include changes in the economic, political and regulatory environment and operational risks such as completion risk and shortage of materials and skilled labour which EFS MySolar (Thailand) Co., Ltd would take appropriate measures to minimise.
Tex Cycle filed a statement with Bursa Malaysia. It stated that its JV unit EFS MySolar Thailand Co Ltd would design, construct and install a solar photovoltaic power generating system capable of producing 999.24 kilowatts at the premises of Bothong Rubber Fund.