Tenaga Nasional Bhd (TNB) plans to invest up to RM424.4 million in a joint venture (JV) with IOI Corp Bhd and a consortium of small and medium enterprises to develop a 500 MW solar power project in Bahau, Negeri Sembilan, Malaysia. TNB’s subsidiary, TNB Renewables Sdn Bhd, has signed a shareholders’ agreement with IOI Corp’s subsidiary, Luminous Aspect Sdn Bhd, and CSP 500MW Sdn Bhd for the project. The JV will operate through a company named Bahau Energy Ventures Sdn Bhd.
The project will include a 500 MWac solar photovoltaic facility and a 250 MW/1,000 MWh battery energy storage system under Malaysia’s Corporate Renewable Energy Supply Scheme. The project will be supported by a long-term renewable energy offtake agreement between TNB and DayOne Data Centres Ltd, a Singapore-headquartered digital infrastructure company.
