KUALA LUMPUR: DPS Resources Bhd (DRB), through its wholly-owned subsidiary DPS Energy Sdn Bhd (DESB), signed a joint venture agreement (JVA) with Mutiara Mahajuta Sdn Bhd (MMSB) to develop a 170-acre land in Mukim of Sungai Siput, Daerah Alor Gajah, Melaka.
The collaboration will spearhead agro-tourism, crops, bio-farming, renewable energy, solar farms, and aquaponics projects.
DRB executive chairman Tan Sri (Dr) Sow Chin Chuan said the collaboration with MMSB is a strategic move to leverage DRB’s expertise in green energy and engineering services.
“This project aligns with our sustainable growth strategy and contributes to Malaysia’s renewable energy targets.
“We are committed to driving innovation in agro-tourism and renewable energy, ensuring long-term benefits for our stakeholders and the community,“ he said in a statement.
DESB specialises in the construction and installation of solar farms, solar photovoltaic systems, artificial intelligence (AI) data centres, battery energy storage systems, gas turbine and power plants, and other green energy and engineering work services, which is spearheaded by DRB executive director Eugene Sow Chuan Sheng.
MMSB has secured collaborative agreements with individual landowners to develop the land in three phases over an initial tenure of thirty years, with an option for a fifteen-year extension.
The first phase of this project will focus on developing agro-tourism attractions, cultivating crops, and establishing bio-farms and aquaponics systems.
The second phase will focus on renewable energy, primarily through the development of a solar farm.
MMSB will undertake mixed development projects in the third phase, including residential, commercial, and industrial components.
The project duration is set between 21 to 25 years, with DESB holding the first right of refusal for further solar farm development or mixed-use projects. The profit-sharing structure allocates 35% of net profits to Mutiara and 65% to DPSE.
Strategically located, the land offers accessibility within 20 minutes to the Simpang Ampat Highway to Kuala Lumpur and 15 to 20 minutes to key areas, including Alor Gajah, Taman Cheng, and Malacca Town.
This advantageous location, combined with the project’s green environment and sunlight exposure, makes it ideal for solar energy production.
It further ensures the project’s long-term profitability and contribution to the Group’s financial stability.
The joint venture underscores DRB’s commitment to sustainable development and aligns with national goals for renewable energy and environmental, social, and governance (ESG) standards.
The Malaysian renewable energy market is projected to grow significantly, from 9.68 gigawatts in 2023 to 12.04 gigawatts by 2028, driven by increased investments and a national shift towards renewable energy.
This project will also create work and entrepreneurship opportunities, contribute to national food security, and reduce DRB’s carbon footprint, aligning with ESG perspectives.
