Advancecon signs Solarvest as exclusive EPCC partner for solar renewable energy projects
KUCHING: Earthworks and civil engineering services specialist Advancecon Holdings Bhd (Advancecon) through its subsidiary Advancecon Solar Sdn Bhd (Advancecon Solar) signed a memorandum of understanding (MOU) to engage Solarvest Energy Sdn Bhd (Solarvest) as exclusive engineering, procurement, construction and commissioning (EPCC) services contractor for solar renewable energy projects in Malaysia under the commercial and industrial category.
A solar photovoltaic investor registered under Sustainable Energy Development Authority (SEDA), Advancecon Solar secured its first project by entering into a MOU with latex glove manufacturer Oon Corp Resources (M) Sdn Bhd (Oon Corp) to install solar photovoltaic systems under the net energy metering (NEM) scheme on the rooftop of Oon Corp’s two premises in Senawang Industrial Estate.
The total generation capacity of the installations on Oon Corp’s premises will be 586.06kWp or approximately 750,480kWh per annum.
Advancecon Solar would collaborate with Oon Corp to adopt, execute and implement the Supply Agreement with
Renewable Energy (SARE).
Datuk Phum Ang Kia, group chief executive officer of Advancecon said: “This first undertaking for Advancecon Solar is an excellent opportunity to kickstart our solar energy venture and form a recurring income stream that complements our core business in the earthworks and civil engineering.
“Furthermore, we are proud to play our role in reaching the country’s target of generating 20 per cent in its energy requirements from renewable sources by year 2025.
“The new MoUs signed provide a new strategic growth area for the group moving forward and we are optimistic of the solar energy sector’s continued trajectory in this country.”
Advancecon Solar will invest in the solar photovoltaic system while new EPCC services contractor, Solarvest would be responsible for the entire engineering, procurement and construction of solar photovoltaic system on the two premises.
Throughout the terms of the SARE agreement, Advancecon Solar will operate and maintain the solar photovoltaic system, with ownership, operations and maintenance transferred to Oon Corp upon expiration of the SARE agreement.