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Reservoir Link Signs Shareholders’ Agreement With EDPR Sunseap

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Reservoir Link signs shareholders' agreement with EDPR Sunseap

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growatt01-08-2022

Reservoir Link Energy Bhd, an energy-related services provider, has just announced that its wholly owned subsidiary Reservoir Link Renewable Sdn Bhd has entered into a shareholders’ agreement between Sunseap Energy (Malaysia) Sdn Bhd (EDPR Sunseap) as well as RL Sunseap Energy Sdn Bhd following the recent joint venture with EDPR Sunseap back in April 2022.

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Under this agreement, Reservoir Link will collaborate with EDPR Sunseap to undertake the provision of Solar Power Purchase Agreement projects in Malaysia through the Company, of which, Reservoir Link will have a shareholding of 51% with EDPR Sunseap having the remaining 49%. The primary objective and purpose of the joint venture is to carry out business in developing, building, owning and operating rooftop and ground-mounted Solar PPAs in Malaysia. Both parties will leverage on their respective areas of expertise to provide technical assistance related to the subsequent design, engineering, procurement, construction, operations and maintenance of the projects.

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Reservoir Link Executive Director Thien Chiet Chai said, “Given the strong market sentiment towards renewables, our collaboration with EDPR Sunseap has proven to be advantageous and has since elevated our competitive status in the solar industry, as evidenced by the 2 recent major solar rooftop projects awarded last month. We will look upon this partnership in a favourable light as we progressively grow together with EDPR Sunseap onboard steering us towards a common goal of becoming one of the prominent players in the solar space.”

An EDPR Sunseap spokesperson said, “This agreement strengthens the partnership and cooperation between EDPR Sunseap and Reservoir Link as we look to undertake more solar power projects in Malaysia. About 40% of Malaysia’s energy supply is expected to be renewable by 2035 and we hope to play a bigger role in the country’s transition to clean energy.”

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