Trive Property to supply components for UTM-VSolar solar project

KUALA LUMPUR: Trive Property Group Bhd will assist Vsolar Group Bhd to develop solar energy generation facilities with gross development value of RM150mil in a solar farming project with Universiti Teknologi Malaysia (UTM).

In a statement, Trive, a pioneer in the research, development and manufacture of green energy storage solutions and battery-related products, said it would supply various solar components such as solar panels, solar inverters, battery chargers, batteries, solar pumps, mounting frames, trackers, accessories and others.

UTM and VSolar had signed a joint venture (JV) agreement on April 11 to develop the facilities and conduct research and development activities into commercialisation of renewable energy technologies, where UTM will provide a 20-acre site per 10 megawatts for the facilities with up to a capacity of 30 megawatts.

Trive did not reveal the estimated value of the components that VSolar would buy from it.

However, it said the agreement was not expected to have any material effect on its consolidated earnings and earnings per share for the financial year ending Jan 31, 2018.

Trive also announced on Tuesday the signing of a collaboration agreement between its unit Trive Property Sdn Bhd and Wuhan, China-based power generation system provider Hubei Guang Bo New Energy Co Ltd.

Among others, they plan to collaborate in the area of research and development, production, assembly, distribution and marketing of power generation systems, including the off-grid/grid-connected wind power generation system and the wind-solar complementary power generation system.

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 News

Nasdaq jumps 2% at open as Treasury yields ease
Bursa Malaysia Securities strike off two dealer’s representatives for violations of rules
SC grants Equitiestracker’s unit fund management licence
Hibiscus Petroleum to undertake capital reduction, share buyback
Ringgit higher against US dollar at close
The Coffee Bean and Tea Leaf eyes to open 140 outlets by year-end
LYC completes acquisition of aesthetic & beauty, dental clinics
Public tranche of Sunview IPO oversubscribed by 63.19 times
MSM appoints Mohd Nazrul Izam Mansor as director
Econpile wins RM24.6mil contract from Berjaya Construction

Others Also Read