KUALA LUMPUR: Pestech International Bhd
is expanding its power generation business in Cambodia with the proposed acquisition of a solar farm project.
The company, in a filing with Bursa Malaysia today, said a subsidiary Astoria Solar Farm Sdn Bhd (ASF) has agreed to acquire a 94% stake in Green Sustainable Ventures (Cambodia) Co Ltd (GSV) from two individuals for US$4mil (RM16.3mil).
The proposed acquisition, Pestech said will give the company the "super-majoriy rights" over the development of a 20-year concession of a 20MW large-scale solar farm project in Bavet City, Cambodia.
The project developer, GSV has obtained a long-term power purchase agreement (PPA) with Electricité du Cambodge (EDC) under the built own and operate model with a power purchase price of US$0.076 per kWh.
...