KUALA LUMPUR: Reneuco Bhd has partnered with Petaling Jaya City Council (MBPJ) for the installation of a rooftop solar photovoltaic (PV) at Pusat Inovasi MBPJ, Taman Sains Selangor under the Net Energy Metering Programme (NEM) 3.0.
The company said its subsidiary, RE Sdn Bhd, signed a memorandum of understanding (MoU) with MBPJ for the project.
The MoU establishes the terms and conditions, scope of work, and the parties' roles.
"Through this collaboration, both parties will receive unique advantages, such as the provision of renewable energy technology (solar), data sharing, savings in electricity bill payments, and reduction of energy consumption at Pusat Inovasi MBPJ, Taman Sains Selangor as well as mutual benefits in assisting Malaysia in reducing carbon emissions," it said in a Bursa filling today.
Subject to climate and weather changes, the company said Reneuco RE will ensure that MBPJ achieves cost savings on electricity bill payments from installing the solar panel system during the 15-year installation period.
Moving forward, Reneuco said the MoU represents an opportunity for the company to expand its product offerings and technical capabilities within the renewable energy sector.
"Through the MoU, Reneuco will have the opportunity to take its first steps into a state government-linked company to install solar panels.
"The MoU also signifies Reneuco's efforts to explore new business opportunities to enhance value for its shareholders and aligns with the company's aspiration to emerge as the leading regional player in the renewable energy industry," it added.
