Reservoir Link Inks Two Solar Power Purchase Agreement Contracts In Malaysia

Reservoir Link Energy Bhd, an energy-related services provider, announced that its wholly-owned subsidiary Reservoir Link Renewable Sdn Bhd, has accepted two letters of award from Klang River Property Sdn Bhd and EE FOOD International Sdn Bhd for the development of solar rooftops which will have an installed capacity of 132 kWp and 180 kWp respectively upon completion. The solar agreements are expected to provide the group with a total earnings accretion of RM3.1 million collectively over the period of 15 years. The projects are expected to commence in January 2023.

Keeping up with the momentum of the renewable energy segment, The Group through its 51% owned subsidiary Founder Energy Sdn Bhd has also received purchase orders from both Samaiden Sdn Bhd and Fabulous Sunview Sdn Bhd (a wholly owned subsidiary of soon-to-be-listed Sunview Group Berhad) to supply its solar mounting structure. This is in line with the thriving demand of the country’s growing adoption as well as the transition into solar renewables.

With the inclusion of the new contracts, Reservoir Link’s total order book for the solar renewable energy segment stood at more than RM50 million. In addition, the Group will build and own a total of 11 Megawatt solar renewable energy farms.

Reservoir Link Executive Director Thien Chiet Chai said, “The overarching demand for solar renewables has once again reaffirmed our beliefs in the segment’s potential given the active recurring orders and contract wins this year. Reservoir Link will continue to increase our involvement in the solar renewable space and also demonstrate our ability to cater to the vibrant industry demands. Referencing our recent project with Osram Opto Semiconductors (Malaysia) Sdn Bhd which was signed in June, we have just recently executed phase 1 of the project and we believe we will be able to replicate our proven track record with other clients as well moving forward.”

“We would also like to take this opportunity to congratulate our client, soon to be listed Sunview Group Berhad and we look forward towards growing the solar renewable industry together,” he added.