PETALING JAYA: Kumpulan Jetson Bhd has entered into a heads of agreement (HoA) with Helios Photovoltaic Sdn Bhd to bid for solar power projects in Sabah.
In a filing with Bursa Malaysia, Jetson said that Helios was a private limited company, principally engaged in the business as dealers of solar energy products, offering services ranging from delivering effective solar power solutions, maintenance and a solar monitoring system for all types of photovoltaic projects to clients through design and build, consulting and project management.
Helios has secured and completed numerous solar power projects with a value of more than US$40mil since its incorporation, including the implementation of the solar power projects within the Kapit and Song districts in Sarawak, which power about 700 households in various longhouses within these districts.
Helios and Kumpulan Jetson will have a 50:50 partnership in their venture together.
The parties have agreed to form a special-purpose vehicle (SPV) to undertake the proposed projects with a view of entering into a joint-venture agreement upon the terms and conditions being mutually agreed upon.
In the event a contract is awarded to the SPV, the parties shall as soon as possible after such award, conclude and execute the definitive agreement.
Jetson said that the HoA shall remain in force until the execution of the definitive agreement, or termination by either party by giving three months’ written notice.