A unit of energy-related services provider Reservoir Link Energy Bhd (KLSE:RL) has agreed to collaborate with Sunseap Energy (Malaysia) Sdn Bhd, also known as EDPR Sunseap, on the development of PPA-backed solar projects in Malaysia.
The two parties said in a statement they have signed a shareholders agreement to implement this partnership through a joint venture called RL Sunseap Energy Sdn Bhd. Reservoir Link will be the controlling stakeholder with a 51% stake. This JV will develop, build, own and operate both rooftop and ground-mounted solar plants under power purchase agreements (PPAs).
“This agreement strengthens the partnership and cooperation between EDPR Sunseap and Reservoir Link as we look to undertake more solar power projects in Malaysia. About 40% of Malaysia’s energy supply is expected to be renewable by 2035 and we hope to play a bigger role in the country’s transition to clean energy,” commented an EDPR Sunseap spokesperson.
Last month, Reservoir Link and Sunseap unveiled they had been awarded two contracts to build roughly 9.68 MWp of rooftop solar systems in Malaysia.
EDP Renewables (ELI:EDPR) finalised the acquisition of a 91% stake in Singapore-based solar developer and operator Sunseap Group Pte Ltd in February 2022.
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