. Tan Chong Motor will undertake its LSS4 venture via a consortium comprising its two listed sister companies, APM Automotive Holdings Bhd . Except for Tan Chong Motor, Advancecon and MK Land, all shortlisted bidders won 50MW in LSS4 capacity each, which is the maximum capacity allowed for a single bidder. “Actual financial details of the individual LSS4 projects are still sketchy at this point, pending further disclosure by the respective companies. “As a ballpark figure, however, we estimate about RM11mil to RM13mil incremental annual Ebitda for the 50MW LSS4 assets, assuming a project IRR of 6% to 8%, capital expenditure (capex) of RM2.5mil per MW, capacity factor of 16.7% and average tariff of 18.7 sen to 21.7 sen per kwh, ” MIDF Research said in a note yesterday.