Samaiden Group Berhad (“Samaiden”), a renewable energy specialist principally involved in developing and engineering, procurement, construction, and commissioning of RE systems and power plants, is pleased to announce that its wholly-owned indirect subsidiary, Samaiden Legasi Timur Sdn. Bhd. (“SLTSB”), had signed a Power Purchase Agreement (“PPA”) with Tenaga Nasional Berhad (“TNB”) on 17 March 2025. This agreement formalises the sale and purchase of electricity generated from Samaiden’s solar photovoltaic (“PV”) energy generating facility under the fifth round of Malaysia’s Large Scale Solar (“LSS5”) programme.
The PPA governs the obligations of both parties for the construction, ownership, operation, and maintenance of a 99.99 MWac solar PV facility in Pasir Mas, Kelantan. Under the agreement, TNB will purchase the net energy output from the facility up to the Maximum Annual Allowable Quantity (MAAQ) of 257,988.14 MWh over a period of 21 years from the scheduled Commercial Operation Date (COD) on 11 October 2027.
Group Managing Director of Samaiden, Datuk Ir. Chow Pui Hee commented, “Signing this PPA with TNB is a landmark achievement for Samaiden and a testament to our commitment to accelerating Malaysia’s transition to renewable energy. This project represents not only a significant expansion of our portfolio but also a long-term revenue stream that will support our financial sustainability. With the government’s ambitious goal of achieving a 70% renewable energy mix by 2050, we are proud to contribute to this vision by developing one of the largest solar projects under the LSS5 programme.”
The signing of the PPA is not expected to have any immediate material impact on the net assets and earnings of Samaiden and its group of companies for the financial year ending 30 June 2025. However, the solar facility is projected to generate positive earnings for the Group over its 21-year operational lifespan, strengthening its long-term revenue base.
This agreement marks another significant milestone in Samaiden’s growth trajectory, reinforcing its leadership position in Malaysia’s renewable energy sector. This agreement also further strengthens Samaiden’s long-term income stream and financial sustainability. The Group remains committed to expanding its footprint in large-scale solar projects and enhancing its capabilities to support Malaysia’s transition towards a cleaner and more sustainable energy future.
