JAKS Partners with CPECC International to Bid for Up to 500MWac in LSS5

JAKS Resources Berhad, a leading construction and power utilities company specializing in water and other infrastructure projects, announced today that its wholly-owned subsidiary, JAKS Solar Power Holdings Sdn Bhd, has entered into a Memorandum of Understanding (MOU) with China Power Engineering Consulting Group International Engineering Co., Ltd. (“CPECC INT’L”). This collaboration aims to participate in the development and submission of bids for solar photovoltaic plants (“Solar PV Plants”) with a maximum aggregate capacity of 500MWac under the Energy Commission’s fifth Large Scale Solar programme (“LSS5”).

Under the terms of the MOU, JAKS and CPECC INT’L will form an exclusive consortium to jointly bid, develop, finance, construct, and operate the Solar PV Plants. JAKS will hold a 51% stake in the consortium, while CPECC INT’L will hold the remaining 49%. CPECC INT’L, a subsidiary of China Power Engineering Consulting Group Co., Ltd. (“CPECC”), is renowned as a leading power engineering integrative service provider both in China and internationally.

Andy Ang Lam Poah, Chief Executive Officer of JAKS, expressed his enthusiasm about the partnership, stating, “We are pleased to collaborate with CPECC once again, following our successful partnership in Vietnam. By leveraging our combined capabilities and expertise, we are confident in the success of our bid. This collaboration aligns with the Group’s overall vision to grow our power and energy segment and further enhances our commitment to expanding our renewable energy portfolio. Given the strong track record of both parties, we are optimistic that this partnership will deliver significant value to the Group.”