{
  "id": 8846205,
  "title": "Pekat leases 190ha Kedah land for renewable energy project",
  "url": "https://urgent.news/2026/09/21/pekat-leases-190ha-kedah-land-for-renewable-energy-project",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-21T05:16:12.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1537487/pekat-leases-190ha-kedah-land-renewable-energy-project"
  },
  "original_language": "en",
  "account": "Pekat Group Bhd subsidiary Pekat Teknologi Sdn Bhd has entered into a conditional lease agreement for approximately 190 hectares of land in Sungai Petani, Kedah. The lease, valid for a period of 24 years, is aimed at the development, construction, and operation of renewable energy facilities, including photovoltaic solar panels, solar photovoltaic systems, and battery energy storage systems. The identity of the landowner, subject to confidentiality obligations, remains undisclosed. The lease is contingent upon securing necessary approvals, permits, licenses, and an acceptable off-take agreement, which may comprise various forms of power purchase or monetisation arrangements. The lease commences with a 24-month construction period, followed by a 21-year operating period, with the possibility of a one-to-five-year extension based on the agreement's terms. Pekat Teknologi will pay RM350 per acre monthly, equivalent to around RM865 per hectare, with a three percent increase every second anniversary after the construction period. An initial downpayment of RM493,500, equivalent to three months' lease rental, is due within 30 days of the agreement. The lease also includes a three-year exclusivity period, prohibiting the lessor from engaging in any activities that could conflict with Pekat Teknologi's rights. The agreement is not anticipated to significantly impact Pekat's financials for the fiscal year ending December 31, 2026.",
  "summary": "KUALA LUMPUR: Pekat Group Bhd’s subsidiary Pekat Teknologi Sdn Bhd has signed a conditional lease agreement for about 190 hectares in Sungai Petani, Kedah for a renewable energy project.",
  "key_points": [
    "Pekat Group subsidiary leases 190ha Kedah land for renewable energy project.",
    "Lease valid for 24 years, includes photovoltaic solar and battery storage systems.",
    "Monthly payment RM350 per acre, with 3% annual increase after construction period."
  ],
  "editors_take": "This land lease cements Pekat's position in renewable energy, allowing it to expand into solar and battery storage projects in Kedah with a long-term operational presence.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}