KUALA LUMPUR: IOI Corp Bhd's wholly owned Luminous Aspect Sdn Bhd has partnered with Tenaga Nasional Bhd's (TNB) subsidiary to develop a 500-megawatt (MW) solar project in Negri Sembilan.
The project involves a 500MWac solar photovoltaic facility integrated with a 250MW/1,000MWh battery energy storage system.
IOI said Luminous had entered into a joint venture and shareholders' agreement with TNB Renewables Sdn Bhd (TRe) and CSP 500MW Sdn Bhd today.
The project marks IOI's first large-scale renewable energy development under the Corporate Renewable Energy Supply Scheme.
