EcoWorld sells industrial land in Johor for RM119m to Chinese company

• The land is located at Eco Business Park II in Senai, Iskandar Malaysia.

KUALA LUMPUR (March 4): Eco World Development Group Bhd announced today that it had entered into a sale and purchase agreement with Deye New Energy Technology (Malaysia) Sdn Bhd (Deye) to sell 32.9 acres of industrial land for RM119 million.

The land is located at Eco Business Park II (EBP II) in Senai, Iskandar Malaysia.

Deye is part of Ningbo Deye Technology Co, a Chinese producer of power inverters, that has announced plans to invest up to US$150 million (RM668 million) in a new manufacturing base for solar equipment in Malaysia.

Ningbo Deye is one of the China’s high-tech enterprises and a major player in the global solar inverter market. It is dedicated to providing complete photovoltaic power system solutions, including residential and commercial power plant solutions.

“We are delighted to welcome Deye to EBP II. The signing today demonstrates the continued appeal of our Eco Business Parks to Chinese industrialists, particularly those in new economy, high-tech and high-growth sectors. As a leading manufacturer of comprehensive solar photovoltaic systems, Deye’s presence here perfectly aligns with our aims to work with companies that make a positive contribution to lowering our collective carbon footprint,” said deputy CEO of EcoWorld Malaysia, Liew Tian Xiong

“Deye’s decision to make such a sizeable investment in Iskandar Malaysia also speaks volumes of the state’s success in attracting high value added, technologically advanced manufacturers to build up the country’s green supply chain,” he added.

Deye solar inverters are known for their high efficiency, ensuring that solar energy is converted effectively, reducing energy wastage.

“Accordingly, it can play an important role in supporting the country’s efforts to transition to more sustainable, cost-effective and energy efficient solutions that benefit the environment as well as the economy as a whole.

“Deye can also raise Malaysia’s profile in the renewable energy space as it will be manufacturing both solar inverters and energy storage systems at its new facilities at EBP II, through which it aims to serve the South-East Asian market,” stated EcoWorld Malaysia in a media release.

“As demand for solar systems increase not just in Malaysia but also the region, Deye’s investment will help boost the local solar industry, creating jobs in the manufacture of ancillary parts and equipment, installation, maintenance and other related sectors,” added EcoWorld.  

EdgeProp.my is currently on the lookout for writers and contributors to join our team expansion. Please feel free to send your CV to [email protected]. 

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!