SAND Nisko Capital Bhd (formerly Len Cheong Holding Bhd) has forged collaboration with Fabulous Sunview Sdn Bhd to integrate a large scale solar (LSS) farm on the group’s upcoming 162-acre project in Melaka.
Yesterday (Dec 20), the company’s wholly-owned subsidiary Len Cheong Industries Sdn Bhd (LCI) inked a memorandum of understanding (MOU) with Fabulous Sunview to formalise their tie-up.
A filing with Bursa Malaysia shows that the collaboration between both parties shall include the planning and submission of LSS tender application of up to 100MWac (megawatts of AC power) to the Sustainable Energy Development Authority (SEDA).
“This MOU is in preparation for the LSS component that we are eyeing to integrate into our upcoming aquaponics solar farm project,” commented sand Nisko’s managing director Emily Sow Mei Chet.
“We plan to kick off our collaboration with Sunview by installing a solar photovoltaic (PV) system on existing factory buildings in Melaka and Seremban for a proposed capacity of up to 4,400kWp (kilowatts peak).”
Sunview which commenced operations in 2013 is a leading solar power system provider and solar installation company. It provides turnkey solutions from engineering, procurement, construction, commissioning (EPCC), subcontracting, and other solar-related services for solar power systems in Malaysia.
Over the last eight years, Sunview has completed a total portfolio of more than 200MWdc (MW of direct current) in solar power generation with a further 50MWdc under construction. Sunview is also appointed by Malaysia Debt Venture (an agency under the Finance Ministry) as an auditor for solar plants.
Recall that on Dec 1, LCI’s fellow subsidiary, Len Cheong Resources Sdn Bhd, has signed a joint venture agreement (JVA) with Mutiara Mahajuta Sdn Bhd for two phases of development on a 162-acre site in Alor Gajah, Melaka. The first phase entails establishing a sustainable agro-tourism project, namely a working aquaponics solar farm.
The agro-tourism project consists of three components, namely (i) the combination of aquaponics farm (aquaculture with hydroponics); (ii) electricity generated from the LSS farm with a capacity between 50MWac to 100MWac; and (iii) the setting-up of a dedicated agro-tourism centre that is complete with farm, fruit orchard and marketplace.
“We look forward to working with Sunview who has the track records and expertise in executing LSS solar projects,” enthused Sow.
“By installing the proposed 4,400kWp solar PV systems on existing factory buildings (including buildings rented out with comprehensive services), we expect to achieve annual savings of up to RM2.79 mil electricity consumption, thus boosting our bottom line.”
At the close of yesterday’s (Dec 20) trading, Sand Nisko was down 3.5 sen or 6.25% to 52.5 sen with 5.66 million shares traded, thus valuing the company at RM122 mil. – Dec 21, 2021
