Kuala Lumpur, 29 October 2021 – Clean energy specialist, Solarvest Holdings Berhad (“Solarvest” or “the Group”), via its wholly-owned subsidiary, Solarvest (Taiwan) Corporate Limited, has today signed a Memorandum of Understanding (“MoU”) with Hsinjing Holding Corporate Limited (“Hsinjing”) to explore opportunities of collaboration with the target to develop 500 megawatts (“MW”) worth of solar projects in Taiwan by 2025.

Listed on the Taipei Exchange (“TPEX”), Hsinjing is an established investor and engineering, procurement, construction, and commissioning (“EPCC”) contractor of solar photovoltaic (“PV”) systems for commercial and industrial businesses as well as large-scale solar projects.

The Taiwanese government plans to increase its renewable energy (“RE”) capacity mix from 5% in 2020 to 20% by 2025 with 20 gigawatts (“GW”) projected to come from solar energy. Between 2021 and 2025, an estimated 14.2 GW of solar energy will be installed in Taiwan.

Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) said, “Today’s MoU signing with Hsinjing is an important step for us as we advance our regional expansion agenda and expand within the Taiwanese RE market. We are immensely pleased to be collaborating with a strong local partner, whose familiarity with the country’s administration and regulations would prove vital in the venture’s success. We are also encouraged by the shared confidence shown by Hsinjing towards our technical capabilities in implementing large-scale solar projects. Together, we have set a target to develop solar projects with a cumulative capacity of 500 MW in Taiwan by the end of 2025.”

“We have identified Taiwan to be a great expansion opportunity for us. The market is ripe for exponential growth for the foreseeable future with the government’s active involvement in incentivising and advocating for the adoption of RE. At the moment, we are in the process of tendering for a couple of solar farm projects, one as a developer and another as an EPCC contractor. Now with Hsinjing on board, we are even more optimistic about our overall prospects in Taiwan. The geographical expansion is anticipated to contribute strong bottom-line growth to Solarvest for the years to come,” Mr Davis concluded.

Thank you for the media coverage:

Media Source: BusinessToday, NST, The Malaysian Reserve, reNews.BIZ, List Solar and etc.

   Choose the Reliable Company To Trust  

The post Solarvest Inks MOU With TPEx-Listed Hsinjing, Targets 500 MW of Solar Projects In Taiwan By 2025 appeared first on Solarvest Holdings Berhad.