KUALA LUMPUR (Dec 7): Gamuda Bhd plans to acquire a 30% stake in ERS Energy Sdn Bhd for RM200 million via the subsciption of shares in the solar energy company.
ERS Energy is one of the largest solar engineering, procurement, construction and commissioning players in the region, with a total project experience of close to 700 MW completed large-scale solar projects, said Gamuda in a Bursa Malaysia filing.
It is currently a joint venture partner of Gamuda in Neda Pekan Sdn Bhd to develop a 39 MW solar power plant under the New Enhanced Dispatch Arrangement (Neda) framework.
The Neda framework allows power producers such as renewable energy producers to supply energy to a single buyer, Tenaga Nasional Bhd, without entering into a power purchase agreement (PPA), and is expected to enhance the competition in the local power generation industry.
Gamuda said the subscription price, which…
Gamuda to acquire 30% stake in solar energy firm for RM200 mil
