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OTHERS POWER PURCHASE AGREEMENT ("PPA") FOR LARGE SCALE SOLAR PHOTOVOLTAIC ("PV") PLANT BETWEEN BP ENERGY SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF BINA PURI HOLDINGS BHD AND SABAH ELECTRICITY SDN. BHD.

BINA PURI HOLDINGS BHD

Type Announcement
Subject OTHERS
Description
POWER PURCHASE AGREEMENT ("PPA") FOR LARGE SCALE SOLAR PHOTOVOLTAIC ("PV") PLANT BETWEEN BP ENERGY SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF BINA PURI
HOLDINGS BHD AND SABAH ELECTRICITY SDN. BHD.
1.  POWER PURCHASE AGREEMENT FOR LARGE SCALE SOLAR

The Board of Directors of Bina Puri Holdings Bhd. (“BPHB” or “the Company”) wishes to announce that BP Energy Sdn Bhd (“BPE”), a wholly owned subsidiary of the Company had on 1 December 2021 signed a Power Purchase Agreement ("PPA") for Large Scale Solar Photovoltaic ("PV") Plant with Sabah Electricity Sdn. Bhd. (“SESB”).

BPE will design, construct, test, commission, own, operate and maintain a solar photovoltaic energy generating facility with a capacity of 5.00MWa.c. to be located at Lot NT 243021423 & Lot NT 243021445 Kg Dasar, Kunak, Sabah for connection to SESB’s medium voltage Distribution Network at PMU Kunak.

The PPA contractual term will be for 21 years from the commercial operation date scheduled on 30 June 2023.

2.  INFORMATION ON SESB

SESB is a private limited company, duly incorporated in Malaysia and having its registered address at Wisma SESB, Jalan Tunku Abdul Rahman, 88673 Kota Kinabalu, Sabah.

SESB is a vertically integrated utility providing reliable generation, transmission and distribution services of electricity in the states of Sabah and the Federal Territory of Labuan.

3.  FINANCIAL EFFECTS OF THE PPA

The PPA is not expected to have any material impact on the earnings and net assets of the Group for the financial year ending 30 June 2022.

4.  DIRECTORS AND SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors or major shareholders of BPHB and persons connected with them has any direct or indirect interests, in the PPA.

5.  STATEMENT BY DIRECTORS

The Board of BPHB is of the opinion that the PPA is in the best interest of the Group.

6.  APPROVAL REQUIRED

The PPA does not require the approval of shareholders of the Company and any relevant government authorities.

This announcement is dated 15 December 2021.

 






Announcement Info

Company Name BINA PURI HOLDINGS BHD
Stock Name BPURI
Date Announced 15 Dec 2021
Category General Announcement for PLC
Reference Number GA1-15122021-00005




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