is expanding its international renewable energy (RE) footprint into South-East Asia with its foray into Vietnam by buying a stake in a 21.6MW project.
In a statement to Bursa Malaysia yesterday, it said TNB Renewables Sdn Bhd will acquire a 39% stake in a project comprising five rooftop solar plants in Vietnam from Singapore’s Sunseap Group.
This acquisition extends TNB’s collaboration with Sunseap, beyond the Malaysia and Singapore cross border partnership, to capture the rapid growth in the Vietnam RE market.
“The project has secured the feed-in tariff (FiT) under the FiT2 scheme in Vietnam which is intended to promote investments in renewable energy sources through lucrative and above market rate tariffs.
PETALING JAYA: Tenaga Nasional Bhd’s (TNB) (pic) foray into the renewable energy (RE) market in Singapore is in line with the utility giant’s plans to fast track its RE expansion plan, say analysts.
KUALA LUMPUR (March 4): Based on corporate announcements and news flow today, companies in focus on Friday (March 5) may include: Tenaga Nasional Bhd, Sasbadi Holdings Bhd, Sunway Bhd, MPHB Capital Bhd, PPB Group Bhd and Lotte Chemical Titan Holdings Bhd.
Tenaga Nasional Bhd wholly-owned subsidiary TNB Renewables Sdn Bhd will buy a 39% stake in a 21.6MW project comprising five rooftop solar power plants in Vietnam from Singapore s Sunseap Group in an acquisition, which will serve as a beachhead for TNB to establish a local presence in Vietnam and expand into the rapidly growing renewable energy (RE) and utility market there. TNB president and CEO Datuk Baharin Din said the acquisition builds on TNB s earlier Malaysia-Singapore cross-border collaboration with Sunseap and demonstrates the utility s commitment to transforming TNB into a regional RE and utility player. TNB s statement, however, did not specify the acquisition price for the 39% stake in the 21.6MW project and where
KUALA LUMPUR, March 3 Tenaga Nasional Bhd (TNB) is in discussions to acquire feed-in tariff (FiT) wind assets in the United Kingdom through its International Asset Group (IAG), said MIDF Research. It said the country’s utility giant is also in the midst of finalising discussions with Sunseap.
TNB expands its international renewable energy footprint into Singapore 03 Mar 2021 / 09:30 H. Solar panels on the roof of a public housing block in Singapore. The TNB-Sunseap collaboration will target, among others, clients such as RE100 companies and multinational corporations.– REUTERSPIX
PETALING JAYA:
Tenaga Nasional Bhd (TNB), through wholly owned subsidiary TNB Renewables Sdn Bhd, has entered into a binding term sheet of collaboration with Singapore-based Sunseap Group to tap into the renewable energy (RE) and corporate power purchase agreement (PPA) market in Singapore.
Sunseap is one of the top solar rooftop companies in Southeast Asia and the largest solar company in Singapore with a fully integrated solar business including presence in the energy retail segment. It has a net capacity of 1.2GW across 11 markets and more than 200 assets in various stages of development.