Technology Park Malaysia (TPM) and Green Planet Energy Co. Ltd. (GPE) of South Korea have today inked a Memorandum of Understanding (MoU) to jointly collaborate in the RE (Renewal Energy Project) Large scale solar Farm and Biomass projects.
Upon the signing of a definitive agreement between both parties, TPM is expected to become the exclusive distributor representative/ resources of GPE’s solar-powered products (with technical support) in Malaysia for the next 10 years.
GPE was established in 2014 and its core business is in RE power generation.
The MoU was endorsed between TPM President and Chief Executive Officer, Dato’ Ir. Mohd. Azman Shahidin and GPE Chief Executive Officer, Mr Dong Jin Sin.
According to Dato’ Ir Mohd Azman, the collaboration could possibly see the establishment of a special purpose vehicle (SPV) as the Power Purchasing entity of renewable energy (PPE), whose consumption shall be less than 100MW/year.
He said GPE would initially be providing the investment and technology for the operations of the PPE, while TPM’s engineering arm, TPM Engineering Sdn Bhd (TPME), would contribute in the manufacture of panel fabrication and customized system integration.
“We are hopeful that such collaboration would be a fruitful venture as the demand renewable energy is on the uptrend and so are the business opportunities. We believe the synergy between TPM and GPE would provide the right direction for Malaysian companies to further enhance the development and growth of the renewable energy sector.
“With the full-fledged expertise and cutting edge facilities of TPME, we are confident that our capability and capacity to manufacture the GPE solar-powered products would be another value-added milestone to our engineering expertise,” added Azman.
Technology Park Malaysia Corporation Sdn Bhd, an agency of MOSTI, has an integrated infrastructure, facilities and support services to assist technopreneurs and entrepreneurs who are keen to commercialize their ideas in the major industry clusters, namely, ICT, Advanced Engineering, Biotechnology, Green Technology, Nanotechnology and Life Sciences.
TPM Engineering Sdn Bhd offers the full range of precision engineering facilities and services from design, prototyping to finished production on contract manufacturing with its advanced flexible manufacturing system.
Its precision engineering design and manufacturing solutions enable the local industry, especially SMEs, to produce high value-added products that enable customers to compete efficiently and effectively in the global market.