Nestcon plans solar joint venture

PETALING JAYA: Nestcon Bhd’s unit has proposed to form a joint-venture (JV) company with Hatten Renewable Energy Sdn Bhd (HRE).

Under the tie-up, they will jointly cooperate and collaborate to secure, supply, construct, develop and manage solar photovoltaic plants and facilities in Malaysia.

Under the agreement between wholly-owned subsidiary Nestcon Sustainable Solutions Sdn Bhd (NSS) and HRE, Nestcon said NSS would have a 70% stake while HRE would own the remaining 30% in the JV company.

By an invitation of Lianbang Ventures Sdn Bhd (LV), the JV company will undertake the development of a 3.19 MWp rooftop solar photovoltaic system project for Dataran Pahlawan Melaka Megamall in Melaka.

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