daily · Clean Energy

IOI and TNB sign development agreement for Malaysian solar-battery project

The November 3 agreement covers planned 500 MWac solar and 250 MW / 1,000 MWh storage in Bahau. DayOne's 21-year offtake arrangement was announced earlier; the plant is not yet described as operating.

By Greener Numbers Editorial Team · Published November 4, 2026 · Updated 11/4/2026

IOI Corporation announced on November 3, 2026 that its subsidiary Luminous Aspect signed a joint venture and shareholders agreement with TNB Renewables and CSP 500MW to develop a solar-plus-battery project in Malaysia. The confirmed step is the development agreement, not the start of electricity deliveries.

The planned project combines 500 MWac of solar photovoltaic capacity with a 250 MW battery system storing 1,000 MWh. Solar capacity, battery power and stored energy are different measures. The announcement does not give a commercial operation date or say that the plant is already built.

TNB Renewables will hold 70% of Bahau Energy Ventures, the project development company. Luminous Aspect will hold 25% and the small-business consortium CSP 500MW will hold 5%. The development company also signed a long-term lease with IOI for approximately 1,300 acres in Bahau, Negeri Sembilan.

IOI says the project will be supported by TNB's long-term renewable energy offtake agreement with Singapore-headquartered DayOne Data Centres. That arrangement, announced on June 11, 2025, anticipates DayOne procuring up to 500 MWac of renewable energy over 21 years for its Malaysian data-center operations. It is an earlier supply agreement, not a new November 3 contract with DayOne.

The development falls under Malaysia's Corporate Renewable Energy Supply Scheme, or CRESS, and is IOI's first large-scale renewable energy project under that scheme. IOI describes the partnership as part of its 2025-2029 strategy to expand its renewable energy business.

IOI expects recurring income from its ownership stake and land lease, but that is a company expectation rather than a completed financial result. Its release does not establish a project cost, an individual electricity-bill saving or continuous round-the-clock data-center supply. Those outcomes cannot be inferred from the announced solar and battery sizes alone.