Transaction News: Tan Chong Group’s First Renewable Energy Project Commences Commercial Operations

TC Sunergy Sdn. Bhd. (‘TC Sunergy’), a subsidiary of Main Market listed Tan Chong Motor Holdings Berhad, announced on 16 February 2024 that their floating large-scale solar photovoltaic plant in Serendah, Selangor has successfully commenced commercial operations.
This project was awarded to TC Sunergy pursuant to the Energy Commission Malaysia’s fourth Large-Scale Solar Photovoltaic competitive bidding cycle (known as LSS@MEnTARI) and represents Tan Chong Group’s pilot venture into the renewable energy sector. The floating solar plant, which has been built on the Sungai Rawang – Serendah Lake, is expected to supply 1,043,114 MWh of green energy to Tenaga Nasional Berhad for a contracted period of 25 years.
Skrine represented TC Sunergy in the transaction. including advising on, drafting and negotiating the agreements for the lease of the water surface and the construction of the floating solar plant. The team comprised Richard Khoo (Partner, Energy), Jesy Ooi (Partner, Real Estate) and Rachel Chiah (Senior Associate, Energy).

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