Meta Bright Group Bhd is strengthening its foothold in the renewable energy sector through a strategic joint venture aimed at delivering total energy solutions.
The Main Market-listed company, which has diversified operations spanning property development, hospitality, investment property, renewable energy, leasing and financing, and concrete business sectors, announced a partnership with United Success Holding Pte Ltd and Yang Lei to establish Meta Bright Solutions Sdn Bhd. This new entity will focus on the development and operation of battery energy storage systems (BESS), electric vehicle (EV) charging infrastructure, and energy efficiency (EE) solutions in Malaysia, with potential expansion across Southeast Asia.
Under the agreement, Meta Bright Energy Sdn Bhd, a wholly-owned subsidiary of Meta Bright Group, will hold a 55% controlling stake, while United Success and Yang Lei will own 10% and 35%, respectively.
The initiative aligns with Malaysia’s National Energy Transition Roadmap (NETR), which aims to boost renewable energy’s contribution to the gross domestic product (GDP) to RM220 billion by 2050, alongside a targeted 32% reduction in carbon emissions within the energy sector.
“With the government’s RM300 million allocation under Budget 2025 to drive renewable energy adoption, grid modernisation, and energy efficiency initiatives, Meta Bright is well-positioned to capitalise on the growing demand for BESS, EV charging infrastructure, and EE solutions,” the company stated.
To enhance technological capabilities, the joint venture has signed an exclusive technical support agreement with YTKJ. YTKJ is backed by Ningbo Urban Construction Investment Holding Co Ltd, a state-backed urban infrastructure developer from China, strengthening the joint venture’s technological and financial foundation. Additionally, YTKJ has collaborated with Ningbo Joyson Electronic Co Ltd to manufacture and produce BESS solutions.
This move underscores Meta Bright Group’s commitment to accelerating the renewable energy transition in Malaysia and beyond, positioning itself as a key player in the region’s evolving energy landscape.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
