ITRAMAS targets 60 pct revenue from solar segment - MIDA | Malaysian Investment Development Authority
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ITRAMAS targets 60 pct revenue from solar segment

ITRAMAS targets 60 pct revenue from solar segment

03 Jan 2021

ITRAMAS Corporation Sdn Bhd remains optimistic of its business prospects and targeting a higher revenue of RM300 million this year from RM250 million previously, for its multiple segments, mainly green technology.

Group managing director/chief executive officer Lee Choo Boo said the target was driven by a few ongoing as well as upcoming projects secured locally, and internationally in the United Kingdom, Vietnam, South America, Africa and Middle East.

“With the three solar photovoltaic power plants concurrently in Melaka, Terengganu and Kedah now operational with a higher than expected output of between six and eight per cent, we expect the solar segment to contribute around 60 over per cent to revenue this year while the remaining to be under the smart cities part,” he told Bernama recently.

ITRAMAS which was established in 1999, is a green and sustainable infrastructure development company in Malaysia. Based in Kuala Lumpur, it has expanded into multiple sectors which include large-scale-renewable energy, energy efficiency, smart city and electronic manufacturing services.

Throughout the years, the company has successfully deployed close to RM2 billion worth of green and sustainable projects, and currently is the largest solar energy producer in Malaysia with 200MWp in operation.

In regard to demand for solar energy, Lee said there is a growing trend in the commercial and industrial sectors but lower interest in the residential area.

“Solar is gaining attention in the country right now. From the business part, we can see more than 100 companies bidding for the large-scale-solar 4 tender, which is very competitive.

“As an industry player, we are now looking at promoting and going into the residential area for solar energy

“We believe that in the next couple of years, that (residential area) will be a major segment as people become more aware about going green; it can save money, and improvement in the storage technology,” he said.

Going forward, Lee said the solar sector would definitely be a main sector, especially in the current period where not many infrastructure projects were going on due to the pandemic while solar seems to be abundant.

On energy efficiency services that include research and development of LED products, high-value-add manufacturing, energy performance contracting, operations and maintenance for public lighting, he said these were all highly customisable to suit the needs of every client.

“We are also actively rolling out smartphones, smart lightings which eventually are part of 5G infrastructure, connected lighting and solar power street lighting.

“So this would allow us to basically bring green energy and roll out energy efficiency street light to rural areas where you do not need electricity cable infrastructure as it is self-sustaining,” he added.

Recipient of the Global Good Governance Awards – 3G Green Innovation and Solutions Award 2020, ITRAMAS has completely dedicated a research and development (R&D) centre in Penang, focusing on product R&D, project finance and investment, product manufacturing, project development, design and installation and operation and maintenance.

“These are amongst our solutions to support the use of sustainable and renewable energy. Towards that objective, we will continue to support the growth of the green technology as a new development model to enhance the sustainability of our clients as well as country,” Lee said.

Source: Bernama