Azanis Shahila Aman
KUALA LUMPUR: AME Elite Consortium Bhd has formed a joint venture (JV) to provide one-stop solar energy solutions to corporations in Peninsular Malaysia as well as its i-Park industrial parks.
AME said its subsidiary Symphony Square Sdn Bhd (SS) had entered a JV agreement with Baozhou New Energy Technology Sdn Bhd (BNET).
AME will hold a controlling 51 per cent stake in the JV company, while BNET will hold the remaining 49 per cent.
BNET will provide technology expertise in solar energy, including solar panels and solar tracking systems, while AME will contribute its experience in integrated industrial space solutions.
The primary activities of the JV company include solar panel installation and connectivity to Net Energy Metering grid, distribution of solar panels and solar tracking systems, and engineering, procurement, construction, and commissioning of Grid Connected Solar Photovoltaic projects for commercial and industrial buildings.
Additionally, AME said the JV company would target new projects in the development, investment, management, operation and maintenance of solar energy systems.
AME group managing director Kelvin Lee Chai said it was constantly on the lookout for opportunities to pursue sustainable growth and enhance its integrated services.
"The joint venture will allow us to add value to the industrial plants and buildings in our i-Parks and other external customers across Peninsular Malaysia, and also expand the capabilities and competitiveness of our construction and engineering division," said Chai.
Chai said the adoption of solar energy would help corporations reduce electricity bills as well as optimise energy efficiency.
"As sustainability and energy efficiency become increasingly important considerations among manufacturers and other companies as part of their social responsibility, the company anticipates growing demand for green energy solutions," he said.
AME said the positive outlook of the sector would be supported by various government incentives such as Green Investment Tax Allowance and Green Income Tax Exemption by the Malaysian Investment Development Authority, in line with the country's sustainable development targets.
"In the long term, the JV will also target large scale and floating solar farm projects, and EPCC projects in the renewable energy sector," it added.