OTHERS SIGNING OF LARGE SCALE SOLAR PHOTOVOLTAIC POWER PURCHASE AGREEMENT WITH SABAH ELECTRICITY SDN. BHD. ("SABAH ELECTRICITY")
| GADANG HOLDINGS BHD |
| Type | Announcement |
| Subject | OTHERS |
| Description | SIGNING OF LARGE SCALE SOLAR PHOTOVOLTAIC POWER PURCHASE AGREEMENT WITH SABAH ELECTRICITY SDN. BHD. ("SABAH ELECTRICITY") |
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Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the announcements dated 30 December 2024, 31 December 2024 and 10 April 2025.
Reference is made to the announcements dated 30 December 2024, 31 December 2024 and 10 April 2025 in relation to the Project.
Further to the Company’s announcement dated 10 April 2025, the Board of Directors of Gadang wishes to announce that its 60%-owned subsidiary, Tenaga Aspirasi Sdn. Bhd. (“SPP”) had on 18 December 2025 signed the Power Purchase Agreement for Large Scale Solar (“PPA”) with Sabah Electricity.
SPP will design, construct, test, commission, own, operate and maintain the solar photovoltaic energy generating facility with the capacity of 15 Megawatt alternating current (“MWac”) located at Tawau, Sabah (“the Facility”) for connection to Sabah Electricity’s medium voltage distribution network at Pencawang Pembahagian Utama (“PPU”) Kubota to generate and deliver solar photovoltaic energy to Sabah Electricity.
The PPA governs the obligations of SPP and Sabah Electricity to sell and purchase the energy generated by the Facility for a period of 25 years from the commercial operation date, which is expected on 30 November 2026, in accordance with the agreed terms and conditions as stipulated in the PPA.
The signing of the PPA will not have any material impact on the earnings and net assets of Gadang and its subsidiaries (“Gadang Group”) for the financial year ending 31 May 2026. However, the PPA is expected to contribute positively to the future earnings of Gadang Group.
None of the Directors or major shareholders of Gadang or persons connected to them has any interest, direct or indirect, in the PPA.
The Company does not foresee any exceptional risk other than the normal operational risks associated with the Facility. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.
The Board of Directors of Gadang is of the opinion that the execution of the PPA is in the best interest of Gadang Group.
This announcement is dated 18 December 2025. |
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Announcement Info
| Company Name | GADANG HOLDINGS BHD |
| Stock Name | GADANG |
| Date Announced | 18 Dec 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-17122025-00050 |