PETALING JAYA: KPower Bhd’s maiden venture into the solar power installation business will further strengthen its growth prospects, as it should ride on the wave of interest in renewable energy in Malaysia, according to RHB Research.
The group’s wholly owned subsidiary KPower Engineering Sdn Bhd had entered into a memorandum of agreement (MoA) with Public Islamic Bank Bhd (PIBB) to collaborate on securing works related to net energy metering scheme (NEM) or self-consumption electricity generation, which are under the purview of Sustainable Energy Development Authority.
The MoA will be in effect for two years.
Under this proposed collaboration, KPower will execute the solar power installation contracts, while PIBB will provide financing under the Solar Financing Scheme and promote KPower as one of the contractors providing these services.
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