PETALING JAYA (July 2): Samaiden Group Bhd is buying about 185.57 hectares (458 acres) of leasehold land in Teluk Intan, Perak, for RM45.5 million as part of its plan to expand its solar farm projects.

According to its exchange filing yesterday, the land, located along Jalan Dato Haji Mohamad, 36000 Teluk Intan, Perak Darul Ridzuan, is currently an oil palm plantation. It is expected to support new utility-scale solar developments that could strengthen the company’s recurring income and asset base.

The renewable energy provider said the purchase will be made through Samaiden Capital Management Sdn Bhd, a wholly owned subsidiary of Samaiden, from Kelapa Sawit (Teluk Anson) Sdn Bhd. The deal is set to be fully funded by bank borrowings and internally generated funds.

The group said the site in Teluk Intan was picked for its high annual solar radiation and its proximity to an existing high-voltage substation. This would lower connection costs to the national grid, making the solar project more feasible.

Currently, Samaiden operates several solar farms on leased land, including projects in Kedah, Perak and Kelantan under government renewable energy programmes like the Corporate Green Power Programme and Large Scale Solar 5. Owning its own land would help reduce long-term rental costs and give the group more control over future projects.

Besides developing its own solar farms, Samaiden is exploring leasing the land to other solar developers, while offering engineering and construction services. This dual strategy aims to create more revenue streams and deepen the group’s role in Malaysia’s renewable energy sector.

The acquisition still needs approval from shareholders, the Perak state authority and the Estate Land Board. If all conditions are met, the deal is expected to be completed by the first half of 2026.

Source: The EdgeProp Malaysia (3 July 2025)