Kuala lumpur: Nestcon Bhd's subsidiary Nestcon Infra Sdn Bhd (NISB) has entered into a partnership with Wawasan Dengkil Sdn Bhd (WDSB) and WDSolar Sdn Bhd (JV Co) to develop a 70-megawatt large-scale photovoltaic plant in Kedah. This venture is part of the LSS Petra 5+ programme, with the plant situated in Ayer Puteh, Pendang, Kedah.

According to BERNAMA News Agency, the consortium of NISB, WDSB, and Pristine Multi-Vision (M) Sdn Bhd (PMVSB) submitted a tender to the Energy Commission (EC) for the LSS5+ project, receiving a shortlist on September 2. This is contingent upon finalizing a Solar Power Purchase Agreement with Tenaga Nasional Bhd by December 19, for a duration of 21 years. JV Co, established on October 14, 2025, is tasked with the development, financing, construction, operation, and maintenance of the solar project. Initially, WDSB holds a 51% stake, NISB 30%, and PMVSB 19%.

The filing states that WDSB and PMVSB have sought approval from the EC for the transfer of PMVSB's 19% share to WDSB. This joint venture aligns with Nestcon's strategy to expand in the renewable energy sector, aiming to establish a sustainable income through long-term power purchase agreements.

Project LSS5+ offers Nestcon the chance to develop a significant solar plant in Kedah, a region recognized for its solar potential. The collaboration allows NISB to utilize its expertise in engineering, procurement, construction, and commissioning, while benefiting from WDSB's experience in project execution.

Nestcon anticipates that this project will positively influence its financial metrics, including net assets per share and earnings per share, enhancing shareholder value over time. The project will be financed through internal funds and is not expected to impact earnings or gearing immediately. The company also notes that no unusual risks are anticipated beyond standard operational risks, and the venture does not require further shareholder or regulatory approvals.