Jacobs Awarded Solar Photovoltaic Power Plant Contract in Malaysia

Rhea-AI Summary

Jacobs (NYSE:J) has been selected by Hanwha Energy Corporation to provide owner's engineer services for a new 100 MWac solar photovoltaic power plant in Pekan, Malaysia. This project, expected to commence operations in 2021, is part of Malaysia's initiative to diversify its energy sources, aiming to boost renewable energy from 2% to 20% by 2030. Jacobs has previously contributed to phases I and II of Malaysia's Large-Scale Solar program, further solidifying its role in advancing sustainable energy in the region.

Positive

• Awarded a significant contract for a 100 MWac solar power project in Malaysia, enhancing revenue potential.
• Involvement in Malaysia's renewable energy initiative aligns with global sustainability trends.
• Previous experience in phases I and II of the Large-Scale Solar program strengthens Jacobs' credibility in the region.

Negative

• None.

DALLAS, July 9, 2020 /PRNewswire/ -- Jacobs (NYSE:J) was appointed by Hanwha Energy Corporation to deliver owner's engineer services to support the design, engineering, procurement, construction, installation, testing and commissioning of a new 100 megawatt alternating current (MWac) solar photovoltaic power plant in Pekan, Pahang, Malaysia.

When complete, the project will be connected to the electricity transmission system operated by utility provider Tenaga Nasional. Hanwha Energy Corporation expects the project to begin commercial operation in 2021.  

"This project is a great opportunity for us to continue to support Malaysia as it expands its renewable energy sector in pursuit of more affordable, sustainable and cleaner energy to meet the future needs of its nation," said Jacobs People & Places Solutions Senior Vice President Global Operations Patrick Hill.

The project is one of five projects selected in a national Large-Scale Solar (LSS) third procurement program led by Suruhanjaya Tenaga, Malaysia's Energy Commission. The LSS program aims to diversify Malaysia's power generation mix and increase the country's renewable resources from 2% to 20% by 2030.

Jacobs was actively involved in both the first (LSS1) and second (LSS2) phase of the LSS scheme, fulfilling owner's engineer, independent engineer and lender technical advisor roles for numerous projects procured under the program, including a 49 MWac project in Sungai Siput, Perak under LSS1, and three 30 MWac projects in Pahang, Negeri Sembilan and Kedah under LSS2.

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $13 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit -1%26h%3D4257239548%26u%3Dhttp%253A%252F%252Fwww.jacobs.com%252F%26a%3Djacobs.com&a=jacobs.com" rel="nofollow">jacobs.com and connect with Jacobs on -1%26h%3D957417935%26u%3Dhttps%253A%252F%252Fwww.facebook.com%252FJacobsConnects%26a%3DFacebook&a=Facebook" rel="nofollow">Facebook, -1%26h%3D2905716696%26u%3Dhttps%253A%252F%252Fwww.instagram.com%252Fjacobsconnects%26a%3DInstagram&a=Instagram" rel="nofollow">Instagram, -1%26h%3D3445181529%26u%3Dhttps%253A%252F%252Fwww.linkedin.com%252Fcompany%252Fjacobs%252F%26a%3DLinkedIn&a=LinkedIn" rel="nofollow">LinkedIn and -1%26h%3D2207383687%26u%3Dhttps%253A%252F%252Ftwitter.com%252FJacobsConnects%26a%3DTwitter&a=Twitter" rel="nofollow">Twitter.

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended September 27, 2019, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For press/media inquiries:
Kerrie Sparks
214.583.8433

 

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SOURCE Jacobs

FAQ

What contract did Jacobs secure in July 2020?

Jacobs was appointed by Hanwha Energy Corporation to deliver owner's engineer services for a 100 MWac solar photovoltaic power plant in Malaysia.

When is the solar power project expected to begin operations?

The solar power project is expected to begin commercial operation in 2021.

What is the goal of Malaysia's Large-Scale Solar program?

The Large-Scale Solar program aims to increase Malaysia's renewable energy resources from 2% to 20% by 2030.

How does Jacobs' new contract affect its market position?

The new contract positions Jacobs as a key player in Malaysia's renewable energy sector, potentially increasing its market share and revenue.