Solarvest, Hsinjing join hands to include 500 MW of solar in Taiwan

• Malaysian solar (PV) plants home builder Solarvest Holdings Bhd (KLSE: SLVEST) will seek to establish as much as 500 MW of solar projects in Taiwan by 2025 in partnership with local EPC company Hsinjing Holding Co Ltd (TPEX:3713).

Solarvest as well as Taiwan-based Hsinjing have signed a Memorandum of Understanding (MoU) to jointly explore possibilities for releasing the capacity, Solarvest claimed on Friday. Information concerning the specific projects were not provided.

"We have determined Taiwan to be a great development possibility for us. The marketplace is ripe for exponential development for the direct future with the federal government's energetic involvement in incentivising and promoting for the adoption of RE," stated Davis Chong Chun Shiong, Chief Executive Officer of Solarvest. He added that the Malaysian group is preparing to tender numerous solar projects in Taiwan, among them as a designer and also an additional one as a design, procurement, construction as well as appointing (EPCC) professional.

With Hsinjing aboard, Solarvest expects "solid bottom-line growth" for the years to come, the CEO claimed.

Taiwan intends to raise the share of renewable resource in its total mounted capacity to 20% by 2025 from 5% in 2020. In line with this target, some 14.2 GW of solar PV parks are expected to go online between 2021 and also 2025.