JS Solar Holding Bhd has signed a memorandum of understanding (MOU) with independent power producer Nur Power Sdn Bhd to explore rooftop solar renewable energy projects at the Kulim Hi-Tech Park in Kedah. The collaboration will focus on developing solar photovoltaic (PV) systems, with the potential inclusion of battery energy storage systems (BESS), to support clean energy adoption within the industrial park.
In a statement, JS Solar said the proposed partnership will see its wholly owned subsidiary, JS Solar Sdn Bhd (JSSB), acting as the engineering, procurement, construction and commissioning (EPCC) contractor. Nur Power, meanwhile, will provide relevant project information and outline the technical requirements for potential installations. The companies may also jointly bid for selected projects within the park, subject to mutual agreement.
Nur Power is a 51%-owned subsidiary of UEM Lestra Bhd, the green industries arm of UEM Group. The company is responsible for generating, transmitting and supplying electricity to industrial customers operating in Kulim Hi-Tech Park. The remaining 49% stake in Nur Power is held by Dulang Ekuiti Sdn Bhd. Dulang is controlled by Teras Dara Konsortium Sdn Bhd, Ivory Insights Sdn Bhd and Alpine Motion Sdn Bhd, the latter linked to the children of the late former minister Tan Sri Jamaludin Jarjis.
According to JS Solar, the MOU is non-exclusive and non-binding. It does not prevent Nur Power from engaging other contractors or service providers for similar projects. The agreement also does not guarantee that any specific project will proceed or that contracts will be awarded. Any formal collaboration would require further negotiations and the signing of a definitive agreement detailing the responsibilities and obligations of both parties.
Under the proposed framework, JSSB may introduce advanced solar technologies for the projects. These could include high-efficiency photovoltaic modules, inverters, battery energy storage systems, hybrid control systems and other related solutions designed to improve energy efficiency and reliability.
The MOU will remain valid for 24 months from the date of signing and may be extended if both parties agree.
Following the announcement, shares of JS Solar rose by half a sen, or 2.5%, to close at 20 sen on Tuesday. The company currently has a market capitalisation of approximately RM66.6 million. Despite the share price increase, the stock has declined by more than 24% since the start of the year.
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