Local University Teams Up With VSolar To Pioneer Large Scale Solar Farming In Malaysia

Local University Teams Up With VSolar To Pioneer Large Scale Solar Farming
In Malaysia

Universiti Teknologi Malaysia (UTM) has formally inked a joint venture
agreement with local ACE Market-listed VSolar Group Berhad on 11 April to
enter into large scale production of renewable energy.

Representing a pioneering move with this public-private partnership to take
solar farming in this country into commercial scale, the Joint Venture (JV)
Company owned by both parties will develop solar energy generation
facilities and conduct research and development activities into the
commercialisation of renewable energy technologies.

Through the agreement, UTM will identify and provide a suitable site of
approximately twenty acres per ten (10) megawatts for solar energy
generation facilities with a capacity of up to thirty (30) megawatts.

On the research and development front, VSolar Group Berhad is looking to
allocate a sum of up to RM2 million to the JV Company over a period of four
years for research and development activities related to the development of
Photo Voltaic Technology and/or its related enhancements, the company
announced in a media statement yesterday.

Leung Kok Keung, Executive Director of VSolar Group BerhadLeung Kok Keung,
Executive Director of VSolar Group Berhad"The objective of the Proposed
Joint Venture Agreement (JVA) is to establish a Public-Private Partnership
with UTM to establish a Solar Energy Generation facility at UTM, in line
with VSolar Group's plans to increase its Solar Energy Generation capacity.

"This will further bolster VSolar's revenue stream for its Solar Energy
division. In addition, this partnership with UTM will enable further
technology development and enable us to tap into UTM's technology talent
pool to further enhance the Group's technical capabilities," Leung Kok
Keung, Executive Director of VSolar Group Berhad explained.

However, revenue generated from the proposed solar plant is currently
uncertain as the rates per kilowatt hour are at the discretion of the Energy
Commission but Leung said that this matter is a nonissue as this Proposed
JVA will have no material effect on the stakes of the Group's shareholders.

"The Group has always worked towards large-scale solar power plants.

"It was never a matter of the viability of the project but finding a
suitable location that allows for the research and development, and
betterment of this technology," Leung concluded.

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Link to Original Article:
http://malaysiandigest.com/features/669028-local-university-teams-up-with-vs
olar-to-pioneer-large-scale-solar-farming-in-malaysia.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com