In a disclosure to Bursa Malaysia Sdn Bhd, this project marks Ranhill's inaugural venture into owning large-scale solar assets, aligning with the company's commitment to renewable energy.
The COD of the project is anticipated to positively impact Ranhill Group's future earnings for the ensuing 25 years, operating within a concession period of the same duration.
"The project will mitigate 2.13 million tons of CO2 emissions throughout its 25-year concession, contributing significantly to environmental sustainability.
"Ranhill remains dedicated to leading sustainability efforts through the adoption of clean energy, minimising carbon footprint, and fostering a more eco-friendly future," it said
Ranhill's stock price increased by 10 sen, equivalent to a 0.93 per cent rise, reaching RM1.09 compared to its previous closing price of RM1.08.