Renewable Energy

In June 2022, Taliworks completed its maiden foray into the renewable energy sector with the acquisition of four (4) brownfield solar asset companies together with its operations and maintenance company in the vicinity of KLIA with an aggregate capacity of 19 MWp:

1. TR Sepang Sdn. Bhd. (“TR Sepang”), operates a 5.0 MWp ground-mounted solar photovoltaic project, built on a palm oil plantation area accessible via Jalan Pekeliling, Sepang;
2. TR SaTerm Sdn. Bhd. (“TR SaTerm”), operates a 4.0 MWp rooftop-mounted solar project above the satellite terminal of KLIA;
3. TR CPark Sdn. Bhd. (“TR CPark”), operates two separate 5.0 MWp rooftop-mounted solar projects within two long-term car parks at KLIA; and
4. Taliworks Renewables Operations Sdn. Bhd., provides end-to-end operations and maintenance services to the above solar assets.

TR Sepang, TR SaTerm, and TR CPark operate under the Feed-inTariff (“FIT”) programme, which is administered by the Sustainable Energy Development Authority (“SEDA”), a statutory body formed under the Sustainable Energy Development Authority Act 2011. The FIT programme aimed to promote development of renewable energy by guaranteeing grid access and favourable tariff rates. These solar assets achieved Commercial Operations Date in 2013.

The acquisition provided Taliworks with three (3) diversified premium solar asset companies in Malaysia generating stable operating cashflow. The addition of a strong and capable management team now bolsters Taliworks’s capability in the renewables space. With the completion of the acquisition of the four (4) solar projects in the second quarter of 2022, the Group consolidated the financial results from the renewables division from the date of acquisition. Taliworks started recognising revenue under the newly created renewables segment from second quarter of 2022 from sales of electricity generated from its solar photovoltaic plants.

The management team is focused on driving performance improvements and risk mitigation initiatives. In 2022, TR SaTerm completed its solar panel replacement, which has already contributed to improved financial performance. The replacements at TR Sepang and TR CPark, completed in 2024, are expected to further enhance the financial performance of the renewables division starting in FY2025.

Looking ahead, Taliworks remains committed to adopting and refining industry-leading O&M practices to maximise yield, optimise operational efficiency, and ensure long-term sustainability. With a culture of continuous improvement, Taliworks aims to strengthen operational performance while meeting evolving industry standards and stakeholder expectations.