TDM-YT PLANTATION, JAKS SOLAR POWER INK MOU TO DEVELOP RM800 MLN LARGE SCALE SOLAR FARM

KUALA TERENGGANU, July 25 (Bernama) -- Terengganu state-owned company TDM Bhd’s subsidiary, TDM-YT Plantation Sdn Bhd, has inked a memorandum of understanding (MoU) with JAKS Solar Power Holdings Sdn Bhd to develop a RM800 million large-scale solar farm.

TDM-YT Plantation board of directors chairman Burhanuddin Hilmi Mohamed @ Harun said the proposed 700-hectare solar farm in Setiu, Terengganu, will have a capacity of 200 megawatts (MW).

He said the collaboration is part of the state government’s initiatives to diminish reliance on fossil fuels and to advocate for the use of cleaner and more sustainable energy sources.

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“TDM-YT Plantation is expected to sign a lease agreement with JAKS Consortium, a joint venture between JAKS Solar Power Holdings and Shanghai-based China Power Engineering Consulting Group International Engineering Co Ltd.

“TDM-YT Plantation’s potential profit from this agreement is as much as RM1 million per year so we hope that the cooperation between the two parties will bring great success and have a positive impact on the socio-economic development of Terengganu,” Burhanuddin said in a statement today.

JAKS Solar Power Holdings is a wholly-owned unit of construction and power utilities group JAKS Resources Bhd. 

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Its executive director, Datuk Razali Merican Naina Merican said the collaboration is necessary to facilitate JAKS Solar Power Holdings’ bid offer as the lessee to be submitted to the Energy Commission.

He also said that JAKS Consortium has the potential to increase renewable energy capacity in Terengganu, thereby providing various benefits to the local community.

-- BERNAMA