KUALA LUMPUR: Distributor of electrical products and accessories, ACO Group Bhd (ACO Group), is expanding its product range to include electrical supplies for the growing solar photovoltaic (PV) industry.
ACO Group has received its maiden solar PV project order of US$1.41 million (RM5.84 million) from EV Connection Sdn Bhd
(EVC) to supply solar panels and inverters for its 6 megawatt (MW) solar PV commercial and industrial buildings projects.
Group managing director Ir. Tang Pee Tee@Tan Chang Kim said over the past year, the company have been growing its geographical presence across Malaysia, distribution channels and enlisted a network of multinational brands as its vendors.
"These efforts have further cemented our leading position in the local electrical supplies industry and enabled us to fulfil high volume of orders within a short span of time.
"Our speed-to-market strength is instrumental for us to penetrate into rapidly expanding and fast-paced industries such as the solar sector," he said in a statement today.
EVC is a provider of solar engineering, procurement, construction and commissioning (EPCC) solutions.
EVC is also a leading one-stop electric mobility service provider specialising in electric vehicle (EV) charging solutions and EV charging stations.
The green technology specialist has a market presence spanning across Malaysia and Singapore.
The rise of the domestic solar industry in recent years has presented various business opportunities across the supply chain, and electrical supplies industry is one of the many beneficiaries of the solar boom.
As installation of solar PV systems increase, the demand for electrical equipment and supplies also grows.
The roll out of mega projects under the large-scale solar (LSS) programme such as LSS@Mentari's 1,000MW new quota and the net energy metering (NEM) programme 3.0's 500MW of fresh new quotas have been the key catalysts for demand growth.
Against the favourable backdrop, ACO Group is making its way to grab a slice of the multibillion-ringgit solar pie.
"With our established network of brand partners, we believe our expansion in this new target market will be fairly smooth and straightforward.
"In recent years, we have already supplied electrical supplies such as switchboards and power cables to solar
players although in a smaller quantity.
"We are now in talks with more brand owners to expand our inventories to include more solar related supplies such as solar panels, inverters, etc. Together with our existing offerings, ACO Group will be providing our prospective clients the access to an extensive selection of electrical products and accessories all at once.
"This would encourage bulk purchase and potentially grow the size of our sales orders," Tang said.
He said the upcoming roll-out of LSS@Mentari programme will be a booster to the solar industry's value chain as more large-scale solar plants will be installed in the next two to three years, which translates to higher demand for electrical supplies.
"We believe it is timely for us to grow in this market segment to capitalise on the flourishing growth potentials.
"We look forward to expand our footprint in the solar industry," he said.