In a filing to Bursa Malaysia, OSK Holdings Berhad (OSKH) announced that its joint development agreement term sheet (JDA-TS) with Japan’s largest independent power producer, Marubeni Corporation (Marubeni), for the development of a large scale solar photovoltaic plant in Peninsular Malaysia was unsuccessful.
On 19 August 2019, the board of directors of OSKH announced that the company has entered into a JDA-TS with Marubeni to jointly submit a bid in response to the Request for Proposal (RFP) by Energy Commission of Malaysia for a large scale solar photovoltaic plant in Peninsular Malaysia (LSS3 Project).
According to the filing to the Bourse in August, OSKH said that the joint development will enable OSKH and Marubeni to share experience and expertise in various areas, including but not limited to the engineering, procurement and construction works of the LSS3 Project.
Marubeni is a company incorporated in Japan with its consolidated subsidiaries involved in a diverse range of business activities across a wide range of fields including food, consumer products, chemical and forest products, energy and metals and many more. Marubeni is one of the largest independent power producers in the world, owning and operating a global portfolio of around 41,041 megawatts, and having acted as Engineering Procurement Construction contractor in completing 110,174 megawatts of power projects.
The reasons for the unsuccessful bid were not specified.
To keep up to date with the latest news, visit the Ohmyhome blog. Need end-to-end assistance in buying your next property in Malaysia? Learn more about our Buyer Agent Service, where our team of trusted professionals will take care of your home buying journey from search, mortgage advisory, deal closing, to legal conveyancing.