PETALING JAYA: Yinson Holdings Bhd will enter a joint venture (JV) to develop and implement commercial and industrial (C&I) rooftop solar photovoltaic (PV) projects in Malaysia.

       In a statement, the company said its subsidiary, YR C&I Pte Ltd (Yinson Renewables), is forming a JV with Plus Xnergy Holding Sdn Bhd for the business.

       “This follows the collaboration agreement signed in August 2021 when both parties expressed intentions to enter into a business alliance to invest and develop up to 250MW of PV C&I projects within and beyond Malaysia,” Yinson said in a statement.

       “The JV will strategically leverage on Yinson’s network, worldwide presence and experience in the energy space, as well as Plus Xnergy’s strength as a leading solar PV system provider and engineering, procurement, construction and commissioning contractor in Malaysia,” it added.

       To date, three projects have been successfully secured, providing rooftop solar PV systems to the C&I market, with a total value of RM43mil over the power purchase agreement tenure.