Majuperak to supply solar energy for Perak
06 Apr 2020
Majuperak Holdings Bhd has today signed a joint venture (JV) agreement with United Solar Energy (Malaysia) Sdn Bhd (USEM) to market and propose solar photovoltaic generating system (SPS).
The JV was to provide a supply of renewable energy for buildings in Perak through SPS which will utilise the net energy metering scheme, said Majuperak in a statement today.
The agreement was inked by Majuperak Power Resouces Sdn Bhd, a wholly-owned subsidiary of MHB.
Majuperak chief executive officer Nizran Noordin said the JV agreement was an opportunity for the company to tap into the growing prospects of the renewable energy sector, particularly as the solar energy segment holds vast potential.
“This is also aligned with the government’s National Renewable Energy Policy target to achieve 20 per cent electricity generation from renewable energy sources by 2025,” he said in the statement.
He said the partnership with USEM allows the company to leverage on its combined expertise to benefit electricity consumers throughout Perak.
“The annual cost savings of about 5.0 per cent to 15 per cent from the SPS will also be channelled back to the people of Perak and to the state government,” he added.
USEM will also obtain the necessary approvals and licences from the Sustainable Energy Development Authority and other relevant local authorities to commence with the SPS project.
It said consent would be secured from respective building owners and electricity consumers for a tripartite supply agreement of renewable energy.