KUALA LUMPUR, 3 October 2025— Press Metal Aluminium Holdings Berhad (PMETAL 8869), Southeast Asia’s largest aluminium smelter and a leading aluminium extruder, announced today that its 40%-owned subsidiary, Mukah Solar Powerplant Sdn. Bhd. (MSPSB), has signed a Power Purchase Agreement (PPA) with Syarikat Sesco Berhad (SESCO), the retail arm of Sarawak Energy Berhad, to develop a 100-megawatt alternating current (MWac) solar photovoltaic facility in Mukah, Sarawak.
Partnership for Renewable Expansion
MSPSB, a special purpose vehicle (SPV), is jointly owned by Press Metal Berhad (40%) and Solarvest Asset Management (Borneo) Sdn. Bhd., a wholly owned subsidiary of Solarvest Holdings Berhad (60%).
Under the PPA, MSPSB will design, construct, own, operate, and maintain the Mukah Solar PV Plant. Scheduled for completion by 30 November 2027, the project carries an estimated investment cost of RM380 million, primarily funded through bank financing. Press Metal’s equity portion will be covered by internally generated funds.
Aligning with National & State Energy Transition Goals
Group CEO Tan Sri Paul Koon described the development as a pivotal step in the Group’s renewable energy journey:
“We are proud to participate in this project, which marks Press Metal’s first involvement in a large-scale solar project. It supports Malaysia’s National Energy Transition Roadmap (NETR), where renewable energy is identified as one of six critical levers to drive the nation’s transition to a high-value green economy. Beyond contributing to Malaysia’s aspiration of achieving 70% renewable energy capacity, the project is also expected to offset around 46,000 tonnes of carbon dioxide emissions annually once operational, fortifying the nation’s commitment to reaching net-zero emissions by 2050.”
At the state level, the Mukah Solar PV Plant will contribute to Sarawak’s target of achieving 10GW of renewable generation capacity by 2030, under its Energy Transition Strategy (SET-P) and the Post-COVID Development Strategy 2030.
Local Benefits & Community Impact
The solar project is also expected to create between 1,500 and 2,000 direct and indirect jobs during its construction and operational phases, strengthening local economic participation.
“This project reinforces Press Metal’s efforts in advancing renewable energy adoption and minimising environmental impact, in line with our aspiration for a greener world. Our unwavering commitment to a sustainable future and transition towards a low-carbon economy remains steadfast,” Koon added.
