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Advancecon Holdings Bhd Receives A Four-Year Extension For Its 26 MW Solar PV Project

A file photo of Advancecon Holdings Bhd Office

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Advancecon Holdings Bhd, a civil engineering solutions provider and builder, has been granted a four year extension by the Energy Commission (EC). This was in addition to the 21-year power buy agreement with Tenaga Nasional Bhd. It was awarded for the development a 26 MW large-scale solar photovoltaic facility in Kuala Langat.

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Advancecon filed that the EC granted an extension to the financial closing date from June 30, 2022 to September 30, 2022. The scheduled commercial operation date was also extended to December 31, 2023.

Advancecon was named among Large Scale Solar 4 @ MEnTARI project owners who were granted a PPA extension. Ranhill Utilities Bhd, KPower Bhd, as well as MK Land Holdings Bhd have also received similar extensions.

The extension was granted by EC in light of the fact that certain projects were not viable due to the fact that the prices for solar panels have increased by between 30% and 50% since 2020.

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Advancecon announced that the PPA’s term will now be extended for 25 years. All warranties and agreements related to the extension will be extended in accordance with the most current PPA period.

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