Solarvest to install residential solar solution for PKNS employees

• The clean energy provider said its residential solar arm, Vestech Energy Sdn Bhd entered into a Memorandum of Understanding with PKNS’ wholly-owned subsidiary Selangor Industrial Corporation Sdn Bhd (SIC) to accelerate the installation.

KUALA LUMPUR (July 13): Solarvest Holdings Bhd’s unit has signed an agreement to collaborate with Perbadanan Kemajuan Negeri Selangor to install residential solar solutions in the homes of the state development arm's employees.

In a statement on Thursday (July 13), the clean energy provider said its residential solar arm, Vestech Energy Sdn Bhd entered into a Memorandum of Understanding with PKNS’ wholly-owned subsidiary Selangor Industrial Corporation Sdn Bhd (SIC) to accelerate the installation.

Under this MOU, SIC will promote and provide residential solar solutions to PKNS employees, including those working for SIC, via a salary deduction scheme that enables them to allocate a portion of their monthly salary toward the installation of solar PV systems.

Solarvest said SIC and PKNS employees will have the opportunity to benefit from the accessible and affordable financing option that eliminates the need for a significant upfront payment, making the transition to greener energy more attainable.

“The adoption of solar PV solutions brings substantial long-term savings and acts as a safeguard against electricity tariff hikes. This positions solar PV systems as an attractive choice, providing homeowners with a reliable and resilient energy source while contributing to a sustainable future," said chief executive office of SIC Ar Wan Muhd Hisham Wan Hawari.

Executive director and group chief executive officer of Solarvest Davis Chong Chun Shiong said via this partnership, Solarvest seeks to facilitate a more sustainable and cost-effective energy landscape in Malaysia that benefits both individuals and the environment.

Solarvest shares gained 2 sen or 1.63% on Thursday at RM1.25, valuing the company at RM834.44 million.