KUALA LUMPUR (Dec 30): Samaiden Group Bhd (KL:SAMAIDEN) said on Monday that it has been selected to develop a 99.99-megawatt large-scale solar photovoltaic plant in Pasir Mas, Kelantan.

A letter of notification from the Energy Commission was received by its unit Samaiden Sdn Bhd for the project under Package 3 of the Large Scale Solar 5 (LSS5) programme, the company said in an exchange filing. The project is expected to be completed by the commercial operation date on Oct 11, 2027.

“The project will operate under a 21-year solar power purchase agreement between Samaiden and Tenaga Nasional Bhd (KL:TENAGA), ensuring a stable and long-term revenue stream,” the company said in a separate statement.

The LSS5 bidding round is Malaysia’s largest solar farm tender to date, comprising four packages totalling 2,000 megawatts. The third package is for capacities of between 30 megawatts and 500 megawatts.

The Edge reported on Dec 26, 2024 that Samaiden was shortlisted, along with Gentari Sdn Bhd — a renewable energy (RE) subsidiary of Petronas — for a 100-megawatt project in Kedah, among other winners.

For Samaiden, securing the project and “standing out as one of the successful bidders marks an important milestone for Samaiden and highlights our ability to execute large-scale RE projects,” said Samaiden managing director Datuk Chow Pui Hee.

Shares of Samaiden were up 2.4% or three sen at Monday's midday trading break ahead of the announcement. At its last price of RM1.28, the company has a market capitalisation of RM536 million.