Samaiden Group has been shortlisted for a 99.99MW large-scale solar project in Pasir Mas, Kelantan under Malaysia’s LSS5 program. The selection highlights Samaiden’s expertise in large-scale renewable energy. This milestone reinforces the company’s role in advancing Malaysia’s clean energy transition.
Long-Term Sustainability and Economic Impact
The solar power plant will have a maximum export capacity of 99.99MW. It is expected to play a significant role in increasing Malaysia’s renewable energy output. The project will operate under a 21-year Solar Power Purchase Agreement (PPA) with Tenaga Nasional Bhd (TNB), Malaysia’s largest electricity utility company. This agreement ensures a stable and long-term revenue stream for Samaiden.
The commercial operation date (COD) for the solar plant is set for October 11, 2027. Once operational, the facility will supply clean electricity to the national grid. This development aligns with Malaysia’s ambition to achieve a 70% renewable energy mix by 2050.
The financial market responded positively to Samaiden’s latest achievement. Following the announcement, the company’s stock rose by 2.4%, reaching RM1.28 per share. This increase pushed Samaiden’s market capitalization to RM535.9 million, reflecting investor confidence in its growth prospects.
Looking ahead, Samaiden remains focused on expanding its renewable energy portfolio. The company is actively exploring new opportunities to develop solar, biomass and other sustainable energy projects. By leveraging its expertise, Samaiden is well-positioned to contribute to Malaysia’s clean energy future.
Samaiden’s Commitment to Solar Project Expansion
Malaysia’s energy transition plan focuses on increasing investments in renewable energy infrastructure. The country aims to expand solar, wind and biomass energy production while enhancing grid stability. Projects like Samaiden’s 99.99MW solar plant contribute directly to these objectives.
The 99.99MW solar project in Pasir Mas is a major step toward strengthening the country’s renewable energy capacity. With a firm commitment to sustainability, Samaiden continues to play a vital role in shaping Malaysia’s energy landscape. As the nation works toward its 2050 renewable energy goals, collaborations between industry leaders like Samaiden and TNB will be essential.
The company has been steadily increasing its presence in Malaysia’s renewable energy sector. Earlier in 2024, Samaiden obtained approval from the Sustainable Energy Development Authority (SEDA) to construct a 7MW biomass power plant in Johor. The plant will supply a net export capacity of 6MW to TNB under a 21-year agreement. This project further demonstrates Samaiden’s expertise in delivering clean energy solutions beyond solar power.
Samaiden’s managing director, Datuk Ir. Chow Pui Hee, expressed enthusiasm about the company’s selection. She highlighted that this project strengthens Samaiden’s position as a leader in Malaysia’s renewable energy landscape. She also emphasized the company’s long-term strategy of expanding its asset ownership while contributing to the nation’s sustainability goals.
Future Prospects for Malaysia’s Renewable Energy Sector
TNB plays a crucial role in Malaysia’s transition to sustainable energy. The company generates, transmits and distributes electricity nationwide. Its partnership with Samaiden reflects a shared vision of advancing renewable energy adoption in Malaysia. By collaborating on large-scale solar initiatives, TNB and Samaiden are driving the country toward a more sustainable future.
Samaiden’s latest solar project also highlights the growing momentum of Malaysia’s renewable energy sector. The government has been actively promoting clean energy initiatives to reduce reliance on fossil fuels. Large-scale solar projects like the one in Pasir Mas are critical to achieving national sustainability targets.
As renewable energy gains traction, Malaysia is set to become a regional leader in clean power generation. Samaiden’s efforts in solar and biomass energy development reinforce its reputation as a key player in this transformation. The company’s continued success in securing large-scale projects underscores its potential to drive significant advancements in the renewable energy sector.