RM10bil solar PV venture for SD Guthrie, Gamuda and Gentari in Perak
KUALA LUMPUR: A joint venture owned by Gamuda Bhd, SD Guthrie Bhd and Petroliam Nasional Bhd’s Gentari has entered into a 21-year supply deal with a US-based technology multinational in Perak.
A joint venture, G3nerasi Kinta Sdn Bhd, formed by Gamuda Bhd, SD Guthrie Bhd, and Petroliam Nasional Bhd's Gentari, has signed a 21-year supply agreement with a US-based multinational technology company for solar power generation in Perak. The G3nerasi Kinta Sdn Bhd will deliver electricity from a 680 megawatts (MWac) hybrid solar photovoltaic plant equipped with battery energy storage to the American company's data centers, commencing in 2029.
The deal has the potential to generate over RM10 billion in revenue during the supply period, according to Gamuda and SD Guthrie's filings with Bursa Malaysia. The project is set to be funded through a mix of project financing and equity contributions from the partners, in line with their respective ownership stakes. With SD Guthrie and Gentari each holding a 33.5% stake, and Gamuda Energy Sdn Bhd, a wholly-owned subsidiary of Gamuda Bhd, owning the remaining 33%, the venture aims to provide stable earnings while expanding its renewable energy and energy storage footprint.
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