KUALA LUMPUR: Reservoir Link Energy Bhd
's indirect subsidiary Founder Energy Sdn Bhd has inked a memorandum of understanding (MoU) with MN Power Transmission Sdn Bhd to explore potential business opportunities in the renewable energy (RE) industry in ASEAN countries.
Under the MoU, the two companies will collaborate on procuring, developing and undertaking any proposed projects, primarily in the RE industry, which will include but are not limited to solar, biogas and biomass projects.
In a filing with Bursa Malaysia today, the company said the MoU is for two years, effective from Sept 12, 2024, to Sept 11, 2026, with the option for an extension by mutual written agreement.
"The MoU is not expected to have any immediate material impact on the earnings of the company and its subsidiaries for the financial year ending June 30, 2025, but is expected to contribute positively to the earnings if the company enters into any definitive agreements resulting from the MoU," it said. - Bernama
