KUALA LUMPUR: The tie-up between Malakoff Corp and Solarvest Holdings Bhd

has been shortlisted by the Energy Commission (EC) as a bidder for the development of a new 470MWac large scale solar photovoltaic project at Malakoff's Windsor Estate in Mukim Kamunting and Mukim Batu Kurau, Perak.

In separate filings with the stock exchange, the companies said it had been notified of the shortlisting by the EC on Sept 2, 2025, following the competitive large scale solar bidding exercise conducted by the EC, known as LSS PETRA 5+.

"The consortium of Malakoff and Solarvest shall incorporate a special purpose company (SPV), which will enter into a solar power purchase agreement (SPPA) with Tenaga Nasional Bhd

(TNB) in relation to the project for a period of 21 years," said Malakoff.

Malakoff has an 80% stake in the consortium while Solarvest holds the remaining 20%. According to the filings, the project will be financed through a combination of debt and equity.

"This solar development will not only contribute towards Malaysia’s net zero ambitions, but also help ensure a stable and reliable energy supply for the nation. 

"By integrating more RE into the grid and reducing reliance on fossil fuels, we are taking tangible steps towards the Government’s target of 70% RE capacity in the power mix by 2050," said Malakoff group CEO Syahrunizam Samsudin in a press statement.

He added that with 198MW of RE capacity already in place, covering large-scale solar, commercial and industrial solar, as well as small hydropower, the new project further strengthens Malakoff's position as a key player in Malaysia’s energy transition.