April 19, 2024
Industrials
Hanwha Energy wins US$50m deal in Malaysia
[THE INVESTOR] Hanwha Energy said on Dec. 6 that it has won a US$50 million deal to build a solar power plant in Malaysia for a local state-run power company, Tenaga Nasional.
Hanwha said it is set to break ground for the 48-megawatt solar facility in Chuping, a small town in the northeastern tip of Malaysia in September 2019.
The company said the commercial operation of the plant is set to begin in October 2020 and it will generate enough power to provide electricity for about 15,000 households annually.
Under the deal with Tenaga Nasional, Hanwha Energy is entitled to run the plant for 21 years, generating profits for the Korean company.
By Alex Lee and newswires (alexlee@heraldcorp.com)
