KUALA LUMPUR (July 12): Pasukhas Group Bhd and Vsolar Group Bhd have inked a collaborative agreement to provide engineering, procurement, construction, and commissioning (EPCC) services to the solar farm industry.
In a joint statement, the two companies said their partnership is to cater to the swathe of solar projects they expect will come onstream over the next 24 months.
The companies will combine their resources to create a project management, execution and ongoing management team to cater for any upcoming large scale solar (LSS) project that requires a turnkey operator.
Pasukhas said its subsidiary Pasukhas Energy Sdn Bhd has a dedicated engineering and construction team with a track record of project management and construction of civil works, mini hydro plants and power plants.
“Working in tandem with Vsolar’s technology transfer expertise, as well as its supply chain from competitive and innovative vendor solutions for solar-based deployments, the collaboration is confident in providing turnkey design, build and operating solutions to the various LSS awardees that are currently planning deployment in the immediate future,” it said.
Meanwhile, Vsolar said its unit Vsolar Engineering Sdn Bhd will leverage its relationships with various technology providers and service providers to contribute technology, modular construction methodology, Internet of Things metering, weather forecasting and ongoing digital management.
It said Vsolar Engineering is in discussions with various parties globally to develop bespoke IOT management systems suitable for the Malaysian landscape and weather patterns.
The two collaborators have commenced negotiations with several infrastructure and renewable energy-based funds to provide a complete package of solutions, inclusive of capex funding.
Pasukhas’ share price fell 2.5 sen or 7.9% to 29 sen today, giving it a market capitalisation of RM335.76 million.
Vsolar closed unchanged at 1.5 sen, valuing the company at RM59.5 million.