Uzma Achieves COD for its 50MWac Large Scale Solar Plant

Uzma Kuala Muda Sdn Bhd (“Uzma Kuala Muda”), an indirect wholly owned subsidiary of Uzma Berhad has achieved the Commercial Operation Date (“COD”) for its 50MWac Large Scale Solar Photovoltaic Plant under the Large Scale Solar (“LSS”) Cycle 4 (“LSS@MEnTARI”) (“Plant” or “Project”) on 25 September 2024.

Located in Ladang Bukit Hijau, Kuala Muda, Sungai Petani, Kedah Darul Aman, the Plant is Uzma’s first venture into asset ownership and development of LSS plant pursuant to a power purchase agreement entered into between Uzma Kuala Muda and Tenaga Nasional Berhad (“TNB”) in August 2021.

Uzma Kuala Muda achieved the project’s financial close date on 14 July 2023, and within a record 10 months of starting physical construction in November 2023, the project was able to hit its COD milestone

Dato’ Kamarul Redzuan Muhamed, Group Chief Executive Officer of the Company, remarked, “The road to securing financing for the Project was arduous. Despite challenges of post COVID-19 impacts, we remained resilient, navigated the complexities successfully, and successfully achieved financial close date in less than one month. This is a testament to Uzma’s capabilities to raise financing and the financial institutions’ confidence not only in the value that the Project will bring but in Uzma’s commitment to achieve greater heights in environmentally sustainable energy projects.”

The achievement of the COD is expected to contribute positively to the future earnings of Uzma Group and the Plant is expected to generate clean energy that will mitigate approximately 1.8 million tonnes of CO2 equivalent emissions throughout the duration of the Plant’s operation.

When speaking about the achievement of the Commercial Operation Date milestone, Mohd Hilmy Abdullah Zawawi, Chief Executive Officer expressed his excitement and appreciation, “It is undoubtedly a remarkable accomplishment for a 50MWac plant to achieve the Commercial Operation Date within just ten months since the physical construction works commenced in November 2023. This proves Uzma’s capabilities and expertise to successfully deliver projects with scale such as this and more. This remarkable accomplishment is not only made possible by the commitment and support given by Uzma team and internal stakeholders. The support given by the relevant entities and government authorities are also integral to this success story. We take this opportunity to express our gratitude for all the support we received in the course of achieving the Commercial Operation Date.”