Gamuda $GAMUDA (5398.MY)$ announced it will acquire an equity stake in the Hazelwood North solar power plant and battery energy storage system project in Victoria, Australia.
The group stated that the 450-megawatt hybrid energy project is expected to commence construction in 2028 and enter commercial operation in 2030, subject to a final investment decision.
The acquisition also requires approval from Australia’s Foreign Investment Review Board.
However, Gamuda did not disclose the transaction value of the acquisition or provide financial details of the project.
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