IOI joins TNB subsidiary for Bahau solar and battery project
TNB Renewables will hold 70 per cent of the development company, while IOI’s Luminous Aspect will own 25 per cent.
IOI Corp Bhd has announced a partnership involving its wholly owned Luminous Aspect Sdn Bhd and TNB Renewables Sdn Bhd (TRe) for a solar development in Bahau, Negri Sembilan. The planned installation pairs 500MWac of solar photovoltaic capacity with battery storage rated at 250MW/1,000MWh.
According to IOI, Luminous signed a joint venture and shareholders’ agreement with TRe and CSP 500MW Sdn Bhd. TRe, a Tenaga Nasional Bhd subsidiary, will own 70 per cent of Bahau Energy Ventures Sdn Bhd. The remaining ownership will be split between Luminous at 25 per cent and a small and medium enterprise consortium at five per cent.
Bahau Energy Ventures will lease 526.09 hectares from IOI on a long-term basis for the development. IOI described the venture as its first large-scale renewable energy project under the Corporate Renewable Energy Supply Scheme.
Support for the project will come from a long-term renewable energy offtake agreement between TNB and Singapore-based DayOne Data Centres Ltd. DayOne is expected to purchase renewable energy of up to 500MWac over 21 years for its Malaysian data centre operations.
Datuk Lee Yeow Chor, IOI’s group managing director and chief executive, expressed optimism that the shareholding and site lease would bring stable recurring income over the long term. He also linked the partnership to IOI’s 2025-2029 strategic roadmap for expanding its renewable energy business.
