Plus Solar revenue surges to RM150m

Plus Solar CEO

KUALA LUMPUR: Plus Solar, the nation’s renewable energy solution provider, has achieved RM150mil in revenue for the financial year (FY) ended March 2020, which was a 134% increase from RM64mil in FY 2019.

Its chief executive officer and co-founder Ko Chuan Zhen said an increase of awareness notably from manufacturers saw many adopted solar energy as they realised the cost savings that would ultimately translate into better cash flow.

"We have also worked closely with financial institutions to offer attractive repayment schemes so it makes good business and financial sense for corporations to adopt clean energy, ” he said in a statement on Tuesday.

The company has experienced a phenomenal year-on-year growth, fuelled by the strong market demand from the manufacturing, commercial and industrial sector, which makes up nearly half of Plus Solar’s business. "

Instrumental to the revenue jump is the execution of a large scale solar (LSS) project which contributed 50 per cent of its revenue growth.

As an engineering, procurement, construction and commissioning (EPCC) service provider, Plus Solar said the LSS projects completed by the company are able to power up 3.57 million homes per year for over a period of 21 years while reducing the level of CO2 emissions to 37,171.58 tC02e per year.

On the current market condition, Ko said the ongoing Covid-19 pandemic has affected businesses across all industries.

"As businesses struggle to keep afloat - the main concern will be on sustaining their top line; revenue and sales. While they may not be able to control the volatility within their respective industries, they must look at cutting the bottom line - expenses.

"This is something that businesses should begin to rethink. Electricity remains a top-three expense for many businesses. Here, solar energy has proven to be a real contributor to cost-efficient savings where investments can be recouped in three to four years whilst shaving off up to 50 per cent of operational costs, ” he said.

Plus Solar he said, is ready to assist the manufacturing, commercial and industrial sector as well as business owners who are keen to maximise bottom-line savings by pinpointing leakages in terms of where energy could be better channelled and how cost savings can be really met.

"Many business owners cannot grasp the return on investment on solar solutions, and this is where we are happy to speak to them to educate and share both the technicalities of solar for their business and its returns, as well as affordable financial packages - so they too can gain access to reducing their bottom line, ” he said. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business

China's yuan ends at weakest since global financial crisis, hits record low offshore
RHB Bank issues RM500mil subordinated notes under MCMTN programme
S P Setia kickstarts green partnership wtih TNB
Bursa Malaysia ends broadly lower amid global recession concerns
Sime Darby Motors to distribute BYD EVs in Malaysia
Uchi Tech disposes of Penang Island tract for RM19mil
K-One Tech unit gets nod from Health Ministry for silicone adhesive tapes
Tourism industry generates RM197.9bil GVATI in 2021, contributes 12.8% to GDP
DHL Express transitioning towards EV fleet in Malaysia
Oil prices fall more than 1% as dollar scales new peak

Others Also Read