TPG UPBEAT ON PROSPECTS
MoU with Hubei Guang Bo to lead way for manufacture of power generation equipment
TRIVE Property Group Bhd (TPG) is bullish on its solar power generation equipment business following the signing of a memorandum of understanding (MoU) with a China-based company yesterday.
The MoU, signed with Hubei Guang Bo New Energy Co Ltd, entailed a joint collaboration to manufacture wind-solar power generation equipment for the latter.
TPG executive director Kua Khai Shyuan said under the deal, the company’s existing manufacturing facility in Kulim, Kedah, would be used to manufacture solar equipment.
He said both companies would be involved in research and development, production, assembly, distribution and marketing of power generation systems, including the off-grid/grid-connected wind power generation system.
“Hubei Guang Bo will supply the technical know-how to TPG for manufacturing purposes in our 1.01ha manufacturing plant in Kulim, Kedah, as part of our joint venture (JV) structure,” Kua told NST Business yesterday.
The products will then be shipped back to Hubei, China.
Kua said he was unable to ascertain the value of the deal as it was still in the very early stages.
Further details on the MoU will be finalised at a later date.
Kua said the JV provided TPG the opportunity to gain additional capacity and the expertise of new technological knowledge in renewable energy sector.
It will also provide TPG an opportunity to tap the expertise of Hubei Guang Bo’s specialist technical staff.
Hubei Guang Bo’s products and systems are now used in many industries, including the meteorological observation station in Sichuan Province.
The company added that these energy products were also used in hotel engineering projects in Shandong, fish farming, plant growth lights, bus-stop sign lighting, traffic lights and highways.
Additionally, the statement said TPG was growing its property development, construction, and technology investment businesses to maintain its competitive advantage.