Reservoir Link to form JV company to undertake solar PV project in Kedah

25 Mar 2024

Energy-related services provider Reservoir Link Bhd will form a joint venture (JV) company to undertake a 29.99 MWac ground mounted solar photovoltaic (PV) project in Kedah.

The group via its wholly-owned unit Reservoir Link Renewable Sdn Bhd (RLR) had on March 20 inked a shareholders’ agreement with Japan-based Sumitomo Corporation (SC), MAQO Engineering Sdn Bhd (MESB) and SRM Utama Selambau Sdn Bhd (SUS) to undertake the project, according to Reservoir Link’s bourse filing.

SC will hold 49% equity interest in the JV company, with RLR holding 29% and MESB the remaining 22% stake.

SC is a Fortune 500 global trading and business investment company with presence in 108 locations abroad and 20 locations in Japan. The company conducts commodity transactions in all industries utilising worldwide networks, provides related customers with various financing, and serves as an organiser and a coordinator for various projects.

MESB is a solar power company and solar panel installer in Malaysia that provides clean energy to residential home owners to full-scale commercial and industrial solar energy systems and solar farm projects.

At Monday’s noon break, shares of Reservoir Link stood at 31.5 sen, giving it a market value of RM98.24 million.

Source: The Edge Malaysia