Singaporean engineering and real estate group TEE International (SGX:M1Z) has formed a joint venture (JV) with Malaysian Solar Resources Sdn Bhd, targeting the Singaporean solar sector.
Under the deal, TEE will own the controlling 51% stake in the new entity and Malaysian Solar Resources will hold 49%, TEE said in a bourse statement on Thursday. The partners will seek to take part in solar tenders in Singapore and pursue investment opportunities on the solar market in South-East Asia.
“This strategic partnership will step up our competitive edge by combining MSR’s expertise in the solar industry with our integrated engineering services and experience in the regional infrastructure section,” said Edwin Neo, head of TEE’s Infrastructure business.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.