Advancecon inks third solar energy MOU

KUCHING: Advancecon Holdings Bhd (Advancecon) announced yesterday that its wholly-owned subsidiary Advancecon Solar Sdn Bhd (Advancecon Solar) inked its third memorandum of understanding ( MOU) with pharmaceutical manufacturing plant Peritone Health Sdn Bhd (Peritone) to develop a rooftop solar photovoltaic system at its premises in Kulim Hi Tech Park, Kedah.

The MOU stipulates that Advancecon Solar will undertake the engineering, procurement and construction of the 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 and the lease agreement period.

Together with the earlier two MOUs signed with Negeri Sembilan-based Oon Corp Resources (M) Sdn Bhd and Melaka-based YHI Manufacturing (Malaysia) Sdn Bhd, this newest MOU increases Advancecon Solar’s total NEM portfolio to 3,710.46 kWp to date.

The MoU comes into effect from the date of signing and will remain effective until the execution of the Power Purchase Agreement (PPA).

Datuk Phum Ang Kia, group chief executive officer said: “This is our significant breakthrough in Kulim Hi Tech Park, which not only complements our existing customer base in South Peninsular, but also potentially enables us 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 end2020.”