Advancecon inks MOU to develop rooftop solar PV system

Advancecon Holdings Bhd’s wholly-owned subsidiary Advancecon Solar Sdn Bhd (Adv Solar) has entered into a memorandum of understanding (MOU) with YHI Manufacturing (Malaysia) Sdn Bhd to develop rooftop solar photovoltaic system under the Net Energy Metering (NEM) scheme on the rooftop of YHI’s premises in Kawasan Perindustrian Bukit Rambai, Malacca with the adoption, execution and implementation of the Supply Agreement with Renewable Energy (SARE) between YHI and Adv Solar with Tenaga National Bhd (TNB)

Advancecon Holdings Bhd’s wholly-owned subsidiary Advancecon Solar Sdn Bhd (Adv Solar) has entered into a memorandum of understanding (MOU) with YHI Manufacturing (Malaysia) Sdn Bhd to develop rooftop solar photovoltaic system under the Net Energy Metering (NEM) scheme on the rooftop of YHI’s premises in Kawasan Perindustrian Bukit Rambai, Malacca with the adoption, execution and implementation of the Supply Agreement with Renewable Energy (SARE) between YHI and Adv Solar with Tenaga National Bhd (TNB).

Adv Solar will fulfil the role of engineering, procurement and construction of a 2,663.28kWp solar photovoltaic system that will be installed on YHI’s premises; and will invest and own the solar photovoltaic system throughout the terms of the SARE agreement. It will fulfil the role of operations and maintenance of the solar photovoltaic system throughout the terms of the SARE agreement.

YHI will give consent and allow Adv Solar to install the solar photovoltaic system on YHI’s premises during the terms of the SARE agreement period; and ownership, operations and maintenance of the solar photovoltaic system shall be transferred to YHI after the expiration of the terms of the SARE agreement.

“In the event the MOU results in definitive agreement between Adv Solar and YHI on the project, the implementation thereof is expected to have a positive impact to the future earnings of Advancecon group,” Advancecon said.

Source: The Sun Daily 

Posted on : 29 June 2020
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Last Updated : Thursday 9th July 2020