Malaysia's 1MDB wins solar power plant project

KUALA LUMPUR, April 14 Mon Apr 14, 2014 5:45am EDT

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KUALA LUMPUR, April 14 (Reuters) - Tenaga Nasional Bhd , Malaysia's largest electricity utility, said on Monday it had signed a power purchase pact with 1Malaysia Development Bhd on the construction a solar power plant.

The agreement entails the state investor's unit 1MDB Solar Sdn Bhd to design, construct, own, operate and maintain a 50 megawatts solar photvoltaic energy facility in the northern state of Kedah, Tenaga said in a press statement.

"The power purchase agreement governs the obligations of the parties to sell and purchase the net electrical output generated by the facility for a period of not more than 25 years," Tenaga added. (Reporting by Yantoultra Ngui and Al-Zaquan Amer Hamzah; Editing by Clarence Fernandez)