MALAYSIA-PRESS-1MDB tipped to develop solar power plant - The Edge

Sun Feb 23, 2014 7:29pm EST

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Government owned 1Malaysia Development Bhd (1MDB) is tipped to spearhead the nation's largest solar power plant project as part of the renewable energy agenda, industry sources said.

According to industry sources, the Energy Commission (EC) and the Sustainable Energy Development Authority (Seda) are considering a proposal to build a 50 megawatt (MW) solar power plant in Kedah. Previous story: Petronas may not meet deadline for investment decision on $19 bln petrochems plant - The Edge

Petroliam Nasional Bhd (Petronas) is looking at another delay in its 60 billion ringgit Refinery and Petrochemicals Integrated Development (RAPID) project as its final investment decision (FID) cannot be made before the deadline by the first quarter of this year.

"The projects will be further delayed as RAPID's FID will most likely not be approved by the timeline stipulated, which is in march and Petronas will incur a sunk cost of 4 billion ringgit," a source familiar with the matter told the Edge Financial Daily.

NOTE: Reuters has not verified this story and does not vouch for its accuracy.

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