Nestcon Berhad Updates MOU With Nam Heng Safety Glass, Secures Solar PV Project Agreement In Malaysia

Nestcon Berhad (Nestcon) has announced an update on its Memorandum of Understanding (MOU) with Nam Heng Safety Glass Sdn. Bhd., initially established on August 9, 2022. This development comes as Nestcon Solar Sdn. Bhd. (NSSB), a subsidiary of Nestcon Sustainable Solutions Sdn. Bhd., has entered into a significant agreement with Subang Safety Glass Sdn. Bhd. (the Customer) to develop, design, install, construct, and commission a solar photovoltaic (PV) system.

Key Details of the Agreement:

• Project Scope: NSSB is set to develop, design, install, construct, and commission a PV system on the rooftop of the Customer’s premises located at Lot 10244, Jalan Subang 6, Taman Perindustrian Subang, Selangor.
• Contract Price: The total contract price stands at RM3,596,112.00, with potential adjustments based on change orders from the Customer.
• Effective Date: The agreement will take effect once several conditions are met, including approvals from the Sustainable Energy Development Authority (SEDA) and the completion of site assessments.
• Commercial Operation Date: The commercial operation is anticipated to commence approximately twelve months from the effective date, pending full commissioning and the necessary approvals.
• Defect Liability Period: A defect liability period of two years from the commercial operation date has been established.

This agreement marks a significant step forward for Nestcon, reflecting its commitment to sustainable energy solutions and expanding its capabilities in the solar PV sector. The project is expected to enhance the company’s R&D and manufacturing capacity while contributing positively to the company’s earnings and net assets.

Nestcon continues to demonstrate its strategic focus on sustainable growth and innovation, positioning itself as a leader in the renewable energy industry in Malaysia.