Reservoir Link, EDPR Sunseap to create solar projects with PPAs in Malaysia
- A unit of energy-related services provider Reservoir Link Energy Bhd (KLSE: RL) has actually consented to collaborate with Sunseap Energy (Malaysia) Sdn Bhd, additionally known as EDPR Sunseap, on the growth of PPA-backed solar projects in Malaysia.
The two celebrations claimed in a statement they have actually authorized a shareholders agreement to execute this partnership with a joint endeavor called RL Sunseap Energy Sdn Bhd. Reservoir Link will be the managing stakeholder with a 51% risk. This JV will establish, build, possess as well as run both roof as well as ground-mounted solar plants under power purchase agreements (PPAs).
"This agreement enhances the partnership and teamwork in between EDPR Sunseap and also Reservoir Link as we aim to carry out more solar energy projects in Malaysia. About 40% of Malaysia's energy supply is expected to be renewable by 2035 and we want to play a larger role in the nation's shift to clean energy," commented an EDPR Sunseap spokesperson.
Last month, Reservoir Link and also Sunseap introduced they had been awarded two contracts to build approximately 9.68 MWp of roof solar systems in Malaysia.
EDP Renewables (ELI: EDPR) finalised the acquisition of a 91% stake in Singapore-based solar developer as well as driver Sunseap Group Pte Ltd in February 2022.
