Tex Cycle's JV unit inks 20-year PPA in Thailand

KUALA LUMPUR (July 20): ACE Market-listed home-grown scheduled waste recycling company Tex Cycle Technology (M) Bhd's joint venture (JV) unit has inked a 20-year solar power purchase agreement (PPA) with Thailand-based Bothong Rubber Fund Cooperative Ltd.

In a filing with Bursa Malaysia on Wednesday (July 20), Tex Cycle said that pursuant to the PPA, its JV unit EFS MySolar (Thailand) Co Ltd will design, construct, instal, own, operate and maintain a solar photovoltaic energy generating system with the capacity of 999.24 kilowatts of electricity at the premises of Bothong Rubber Fund.

The authorised director of Bothong Rubber Fund is Pracha Sapphipattana.

Tex Cycle said this PPA is expected to contribute positively to its future earnings.

Shares of Tex Cycle closed unchanged at 44 sen apiece, giving it a market capitalisation of RM112.72 million.