PETALING JAYA: Ekuiti Nasional Bhd portfolio company Davex Malaysia Sdn Bhd has acquired 51% of energy advisory and solutions company Xenergi Sdn Bhd to facilitate its diversification and expansion into energy solutions.
Davex is a home-grown lighting design, manufacturing and consultancy company providing end-to-end lighting solutions. It plans to diversify into energy solutions incorporating solar photovoltaic and thermal, air-conditioning and mechanical ventilation and others within building services space.
The company said the acquisition will strengthen its position as an energy efficiency (EE) player and expand its offerings to renewable energy (RE) on energy performance contract (EPC) and related engineering, procurement, construction and commissioning business models.
The acquisition of Xenergi is driven by the local landscape as the Malaysian government has announced its focused power generation plan with a target of 31% RE in installed capacity by 2025 and 40% by 2035. Solar is expected to contribute mainly to growth in RE capacity in Malaysia and regionally.
Davex Group CEO Alok Ghose said the acquisition allows it to bring end-to-end solar energy generation, energy management, cooling optimisation and sustainable lighting solutions.
“This will build upon our track record spanning 40 years across the region in implementing commercial lighting installations, including connected LED smart solutions over recent years. Xenergi will advance our environmental, social, and governance and Internet of Things vision.
“With this acquisition, Davex and Xenergi will be in a position to offer RE and EE solutions, with digitally connected integration technologies to spearhead smart and sustainable buildings, industries, and infrastructure. Combined with smart EMS, illumination, EPC and turnkey capabilities, it will also catalyse our sustainability efforts in a variety of segments across Southeast Asia,” Ghose said.
Davex has been involved in projects such as the PNB 118, KLCC, Sunway Medical Centre, and Singapore’s Changi Airport and Public Housing programme.
