Press Metal Aluminium's (KLSE:PMETAL) 40%-owned unit Mukah Solar Powerplant signed a deal with Syarikat Sesco to design, construct, own, operate and maintain a solar photovoltaic energy generating facility worth 380 million ringgit.

The facility has a capacity of 100 megawatts alternating current, and will be located in Sarawak, Malaysia.

The facilty will generate and sell solar photovoltaic energy to Syarikat Sesco under the agreement.

Most of the project cost will be financed through banks, while Press Metal Aluminium will cover its equity portion with internal funds, it said.