Germany’s BayWa r.e. renewable energy GmbH has finalised the sale of its first solar farms in Malaysia to Kuala Lumpur-based independent power producer (IPP) reNIKOLA Sdn Bhd.
The buyer acquired a 5.2-MWp solar farm in Arau, Baywa r.e.’s maiden project in Malaysia, and the 39-MWp Gebeng plant for an undisclosed price. The sale was conducted in two stages and closed in December 2020, Baywa r.e. said in a press release on Tuesday.
The German renewables developer secured both projects in Malaysia’s auctions for solar photovoltac (PV) capacity.
The Arau project was built on university campus grounds in Perlis, while Gebeng is notable for being the first solar park from the second auction to start operations, according to Baywa r.e.