Reservoir Link Energy unit inks JV to develop solar PV project in Kedah

KUALA LUMPUR: Reservoir Link Energy Bhd's wholly-owned subsidiary Reservoir Link Renewable Sdn Bhd has entered into a shareholders' agreement (SA) with Sumitomo Corp, MAQO Engineering Sdn Bhd and SRM Utama Selambau Sdn Bhd to develop and operate a 29.99 MWac ground-mounted solar photovoltaic project in Kedah.

Under the agreement, Reservoir Link Renewable will hold a 29% stake while Sumitumo will own 49% and MAQO, 22%, in the joint venture.

"The SA is expected to contribute positively to the earnings and earnings per share of Reservoir Link Energy for the financial year ending June 30, 2025, and beyond, upon successfully implementing the project," said the group in a bourse filing.