PETALING JAYA: Pimpinan Ehsan Bhd’s (PEB) proposed regularisation plan will see the group with four solar plants, with combined 133MWp (mega watt peak) capacity, as operational assets with power purchase agreements.

       “Over the past year, we have been working with reNIKOLA Holdings Sdn Bhd on the transformation of PEB into a pure play renewable energy (RE) group.

       “In addition, we have an incoming strategic shareholder in B.Grimm Power (M) Sdn Bhd. As we leverage on its in-depth technical expertise and vast experience in green energy, we are confident that B.Grimm’s entry shall accelerate our plans to be the leading RE group in the country,” said PEB chairman Jonathan Law Ngee Song in a statement.

       Yesterday, PEB said it had inked into a second supplemental deal with B.Grimm Power, reNIKOLA Sdn Bhd, Boumhidi Adel and Tengku Zaiton Ibni Sultan Abu Bakar (collectively the vendors) on the proposed acquisition of reNIKOLA Holdings Sdn Bhd and its subsidiaries.

       In May 2021, PEB said it would acquire reNIKOLA Holdings for RM373mil.

       reNIKOLA Holdings owns solar power assets in Arau, Perlis; Gebeng, Pahang; Pekan, Pahang; and will develop a large-scale solar plant in Bukit Kayu Hitam, Kedah (pending issuance of licence), all totaling 418 MWp on completion.