PETALING JAYA: Advancecon Holdings Bhd’s wholly owned subsidiary Advancecon Solar Sdn Bhd inked a memorandum of understanding (MoU) with pharmaceutical manufacturing plant Peritone Health Sdn Bhd to develop a rooftop solar photovoltaic system at the latter’s premises in Kulim Hi Tech Park, Kedah.
The MoU stipulates that Advancecon Solar will undertake the engineering, procurement and construction of a 461.12kWp solar photovoltaic system installed on Peritone’s premises, and subsequently invest in, own, operate and maintain the system throughout the power purchase agreement (PPA) and the lease agreement period. The MoU comes into effect from the date of signing and will remain effective until the execution of the PPA.
Together with two MoUs signed earlier with Negri Sembilan-based Oon Corp Resources (M) Sdn Bhd and Malacca-based YHI Manufacturing (Malaysia) Sdn Bhd, the latest MoU increases Advancecon Solar’s total net energy metering (NEM) portfolio to 3,710.46kWp.
Group CEO Datuk Phum Ang Kia said the project in Kulim Hi Tech Park not only complements its existing customer base in the southern peninsula, but also potentially enables it to make inroads into empowering other corporations in the industrial park.
“More than just allowing companies to play their part in participating in the nation’s solar energy initiative, the greater adoption of these solar energy solutions indicates corporations’ appreciation of the cost benefits in optimising their energy usage in sustainable ways and for a longer term.
“Advancecon Solar is certainly on track towards achieving our target of increasing our NEM portfolio size to between 7,000 and 10,000 kWp by end-2020,” said Phum in a statement.
