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Pekat Unit Signs MYR54.5 Million Lease Deal

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Pekat Group (KLSE:PEKAT) unit Pekat Teknologi signed a conditional lease agreement for about 470 acres of land in Kedah, Malaysia, valued at 54.5 million ringgit, according to a Monday filing.

The 24-year lease will be used for renewable energy activities, including the development, construction and operation of solar photovoltaic systems and battery energy storage systems.

The project is subject to relevant approvals and Pekat securing an offtake agreement.

Construction is expected to take 24 months, followed by a 21-year operating period.

What else is happening in Asia?

Asia

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TYO:9984
Asia

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SHA:688036
Asia

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SHA:601825