PETALING JAYA: G Capital Bhd (GCAP) has entered into a memorandum of understanding (MoU) with KOP Mantap Bhd (KOP Mantap) on the potential strategic collaboration on the development of renewable energy, focusing on solar power.
The MoU was signed yesterday by GCAP’s project director, Khairul Anuar Mohamad and group chief executive officer of KOP Mantap Datuk Muhammad Asri Haris.
The GCAP group is principally involved in the transportation services, mini-hydropower activities and solar photovoltaic energy generating system in Malaysia.
Meanwhile, KOP Mantap is a wholly-owned subsidiary of Koperasi Polis Diraja Malaysia Bhd (KPDRM). It acts as an investment arm of KPDRM, focusing on revenue growth and strengthening KPDRM’s corporate image and human capital.
In a statement yesterday, GCAP said the MoU entails the mutual intentions to establish a framework for collaboration in respect of business opportunities and potential business ventures.
This included but not limited to, developing plots of land with high sun exposure for purposes of constructing, developing and operating solar photovoltaic plants to house solar power systems to generate electricity and other projects to be identified by the parties.
KOP Mantap’s main role will be responsible for leading and developing the proposed project, while GCAP will be responsible for the expertise, knowledge and know-how to undertake and execute it.
Both parties will have the mutual responsibility to appoint contractor, sub contractors, professional consultant or such other parties in connection with the project, it added.
GCAP executive director Tan Sri Dr Ali Hamsa said the group’s vision is to be one of the leading players in the renewable energy segment in Malaysia, and it is confident that this collaboration is a strategic step forward for the group to achieve its goal.
“Furthermore, this potential strategic collaboration will potentially grow our recurring income and aid the nation to reduce its carbon footprint.
“Currently, the GCAP group’s solar power business arm, Solarcity Malaysia Sdn Bhd, has already bagged a total of 16.6 megawatt power purchase agreement,” he said.