Reservoir Link inks shareholders’ deal with EDPR Sunseap for project dev’t in Malaysia
This will be focused on developing solar PPA projects.
Reservoir Link Renewable Sdn Bhd, a subsidiary of Reservoir Link Energy Bhd, has signed a shareholders’ agreement with Sunseap Energy (Malaysia) Sdn Bhd (EDPR Sunseap) and RL Sunseap Energy to carry out projects development in Malaysia.
Reservoir Link will work with EDPR Sunseap to undertake the provision of solar power purchase agreement (PPA) projects in Malaysia, through RL Sunseap Energy, where Reservoir Link has a 51% stake, while the remaining was held by EDPR Sunseap, according to a joint statement.
“The primary objective and purpose of the joint venture are to carry out business in developing, building, owning and operating rooftop and ground-mounted Solar PPAs in Malaysia,” the statement read.
“Both parties will leverage on their respective areas of expertise to provide technical assistance related to the subsequent design, engineering, procurement, construction, operations and maintenance of the projects,” it added.
The signing came following the recent joint venture in April 2022.
An EDPR Sunseap spokesperson said the agreement strengthened the partnership as it looks to undertake more solar power projects in Malaysia.
The spokesperson noted that about 40% of Malaysia’s energy supply is expected to be sourced from renewable sources by 2035.
“Given the strong market sentiment towards renewables, our collaboration with EDPR Sunseap has proven to be advantageous and has since elevated our competitive status in the solar industry, as evidenced by the 2 recent major solar rooftop projects awarded last month,” said Reservoir Link Executive Director Thien Chiet Chai.