KUALA LUMPUR: Clean energy provider Plus Xnergy Holdings Sdn Bhd has introduced a solar rent-to-own programme that would help Malaysian households reduce monthly electricity bills.

       Plus Xnergy group chief executive officer Ko Chuan Zhen said the company projects to outfit 2,000 houses with solar power systems in the next 12 months, and up to 5,000 by the second year.

       "Our goal is to hasten the adoption of solar solutions with a first in the market solar rent-to-own programme that would grant long-term savings to the Malaysian household without incurring unrealistic monthly costs, while accelerating the country’s progress towards its renewable energy goals.

       "The programme is touted to save up to 90 per cent of a household’s monthly electricity bills," he said in a virtual launching ceremony today.

       Ko also noted that after rental payments of approximately RM388 per month for five years, the solar setup will be owned by the residents, granting marked higher savings.

       "Within the period of repayment, operations and maintenance costs are borne by Plus Xnergy, removing any hidden costs.

       "It has a warrantied performance period of up to 25 years, allowing continued gains," he said.

       Earlier, Ko announced the rebranding exercise of Plus Xnergy, formerly known as Plus Solar Systems Sdn Bhd, into a main holding company.

       He divulged that Plus Xnergy Services Sdn Bhd (PXS) is its engineering, procurement, construction and commissioning (EPCC) subsidiary and Plus Xnergy Edge Technologies Sdn Bhd is its technology-focused subsidiary.

       "Despite pandemic circumstances, Plus Xnergy is optimistic on the market growth and confident in projecting revenue growth of RM500 million in three years.

       "Backed by interest and demand from other regions, we also foresee expansions to Vietnam and Taiwan or the Philippines," he said.

       During the event, Plus Xnergy also announced a collaboration between PXS and Yinson Renewables Pte Ltd, a wholly-owned subsidiary of Yinson Holdings Bhd, to jointly invest and develop an asset portfolio of up to 250 megawatts (MW) of solar commercial and industrial projects within and beyond Malaysia in the next three years. - Bernama