Constant Energy consortium wins Solar PV Power Plant in Malaysia Government Tender with grid parity bid

 

The project consist of constructing and operating a large-scale solar photovoltaic power project in the Sabah region of Malaysia with a total generation capacity of approximatively 7.5 megawatts under a 21-year PPA. The award was made under the second round of the Malaysian Government Large Scale Solar PV program.

” The project, which is located in the Beaufort Municipality, will generate power at a price at or below current grid parity in Sabah, which  will translate in lowering economic cost of power to end-users  and is expected to begin construction by Q3 next year. It should start generating competitive green electricity to the grid before the end of 2019. This is the first phase of a large solar development plan in Sabah for Constant Energy, which entails additional larger plants on a dedicated solar zone of 100ha as part of a larger Beaufort city development approved by the municipality. The project will contribute to transform Sabah State, part of environment fragile Borneo Island from the current majority of fossil fuel power supply to renewable power supply.

Commenting on the award, Franck Constant, President of Constant Energy said: ” We are very pleased with our success today, coming as it did amid robust competition. The award is an important milestone in Constant Energy growth in Asia as its first project in Malaysia. We have been working closely with our local partners Gaya Belian and our advisors for the past year. This outcome rewards an excellent partnership and shared sense of common purpose among the members of the consortium. We are delighted to achieve this milestone and add Malaysia with its history as a stable and profitable market for IPPs to our Asian operations. We have been impressed with the quality of the organization and spirit of cooperation displayed by the Malaysian Authorities in this tender process and with the balancing of stakeholders long term interests.” said Mr. Constant.

This program has been and will become more successful with its full implementation. The Round 2 of the Large Scale Solar PV auction has resulted, especially through our offer, among the lowest power rates reached in Sabah for the benefit of the end-consumer. Constant added. ” We will forge ahead with our solar plant projects  and seek to reduce further  the average economic cost of generated power in Sabah, as well as introduce our world-class battery storage solutions to alleviate transmission constraints of the grid there. Constant Energy consortium solar plant will produce sufficient clean energy to power close to 1077 households. As another example, it will result in 7,182 Tons of CO2 avoided every year.”

About Constant Energy: Constant Energy is a renewable electricity generation and storage investment platform which invests in and manages high-quality power assets in selected countries. Constant Energy’s team is specialized and experienced, and personally manages its international assets with a long-term outlook. We firmly believe that only a local and active asset management can achieve the targeted return on a long-term basis. For more information on Constant Energy, please visit www.constantenergy.net

About Gaya Belian: Headquartered in Kotah Kinabalu, GB, a real estate development and construction engineering company, is the lead local partner for the project.

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