• Transaction is aligned with Zelestra’s strategy to focus investments on high growth markets, each representing a Business Unit of the company
• Operations in Malaysia comprise the 3SP project, a 116 MW PV plant, which has been operational since March 2022 in Sungai Petani (Kedah), as well as the associated O&M services
• OCK is a leading Malaysian industrial group involved in the provision of turnkey telecommunications network services, renewable energy, and power solutions

Zelestra, a global, multi-technology, customer-focused, renewable energy company, has entered into an agreement with OCK for a strategic investment in its Malaysian operations through the issuance of Redeemable Preference Shares.

Zelestra’s operations in Malaysia consist of the 3SP solar plant, an operational 116 MW PV project commissioned in 2022, including the O&M and asset management services provided to the plant.

This transaction is an important step in the execution of Zelestra’s strategy of focusing investments in priority markets, represented by the company’s five Business Units: South Europe, the United States, Germany, India, and Latin America. Each of them hold a very large growth potential in the next few years, and each is led by a strong executive team with ambitious growth goals.

The agreement is subject to approvals by the relevant authorities.

About Zelestra

With a portfolio of 27 GW of carbon-free projects across 13 countries, Zelestra is a vertically integrated company specializing in developing, commercializing, constructing, and operating large-scale renewable energy projects. Zelestra is made up of 950+ professionals globally. It is backed by EQT, one of the largest fund managers in the world, with more than 242 billion euros in assets under management.

About OCK

OCK is a Malaysian group involved in the extensive and broad provisions of turnkey telecommunications network services, renewable energy, power solutions, tower facilities, utilities, and communication network for mobile and broadband operators.