MPay to finance Coral Power’s solar power plant

TheStar Sat, Oct 24, 2020 08:40am - 3 years View Original


MPay’s financing offer is subject to Coral Power meeting the condition precedents and MPay successfully raising the Green Energy Fund via MAS Singapore-registered Passion Venture Capital, as announced on Sept 1.

KUALA LUMPUR: Managepay Resources Sdn Bhd, a wholly owned unit of ManagePay Systems Bhd (MPay), will finance a large-scale solar photovoltaic (PV) plant with a 9.99MW capacity in Manjung, Perak.

It has received a signed acceptance to the letter of offer issued to Coral Power Sdn Bhd for the financing.

Minetech Resources Bhd’s 70%-owned subsidiary Coral Power Sdn Bhd bagged the contract to build the LSS2 plant for a period of 21 years in 2018.

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