SCOMI Group Bhd with Skill Johor to develop a renewable energy generation program at Skill Johor’s Technical and Vocational Education and Training Campus (TVET) in Johor. Scomi, a 51%-owned subsidiary of Scomi SGSB Sdn Bhd.
“Scomi SGSB has conducted several site visits and technical assessments and has determined that solar photovoltaic (PV) system provides the best solution to generate RE while mitigating the rising energy cost of the campus over 21 years,” it said.
The campus can also accommodate up to four megawatts peak. Scomi also submitted a commercial proposal on the zero-capital spending model to Skill Johor.
The installation of the solar photovoltaic system will not begin until the campus is fully operational and it is anticipated to happen in the fourth quarter of 2023, and the first quarter of 2024.
According to the group, the MoU will not have any effect on the share capital or substantial shareholders’ shares of Scomi SGSB.
“Currently, the MoU is not expected to have a material effect on the earnings per share, net assets per share and gearing of Scomi SGSB for the financial year ending June 30, 2022,” it added.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
