Reservoir Link signs shareholders' agreement with EDPR SunseapTo carry out and undertake projects in Malaysia
Kuala Lumpur, 25 July 2022
Reservoir Link Energy Bhd (“Reservoir Link” or “Group”), an energy related services provider, has just announced that its wholly owned subsidiary Reservoir Link Renewable Sdn Bhd has entered into a shareholders’ agreement between Sunseap Energy (Malaysia) Sdn Bhd (“EDPR Sunseap”) as well as RL Sunseap Energy Sdn Bhd (“the Company”) following the recent joint venture with EDPR Sunseap back in April 2022.
Under this agreement, Reservoir Link will collaborate with EDPR Sunseap to undertake the provision of Solar Power Purchase Agreement (“Solar PPA”) projects in Malaysia through the Company, of which, Reservoir Link will have a shareholding of 51% with EDPR Sunseap having the remaining 49%. The primary objective and purpose of joint venture is to carry out business in developing, building, owning and operating rooftop and ground mounted Solar PPAs in Malaysia. Both parties will leverage on their respective areas of expertise to provide technical assistance related to the subsequent design, engineering, procurement, construction, operations and maintenance of the projects.
Reservoir Link Executive Director Thien Chiet Chai said, “Given the strong market sentiment towards renewables, our collaboration with EDPR Sunseap has proven to be advantageous and has since elevated our competitive status in the solar industry, as evidenced by the 2 recent major solar rooftop projects awarded last month. We will look upon this partnership in a favourable light as we progressively grow together with EDPR Sunseap onboard steering us towards a common goal of becoming one of the prominent players in the solar space.”
An EDPR Sunseap spokesperson said, “This agreement strengthens the partnership and cooperation between EDPR Sunseap and Reservoir Link as we look to undertake more solar power projects in Malaysia. About 40% of Malaysia’s energy supply is expected to be renewable by 2035 and we hope to play a bigger role in the country’s transition to clean energy.”
About EDPR Sunseap APAC
EDPR Sunseap APAC is a solar energy system developer, owner, and operator in Singapore, with a pipeline of close to 10 GWac of solar energy projects across Asia. Its solar energy systems are projected to be installed on more than 3,000 buildings in the Asia Pacific region, including public housing estates, as well as commercial and industrial buildings.
EDPR Sunseap also operates in various territories across the Asia Pacific, including Vietnam, Cambodia, China, Taiwan, Japan, Thailand, Malaysia, Indonesia and South Korea. EDPR Sunseap is part of EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and one of the world's largest renewable energy producers.
About Reservoir Link Energy Bhd (“Reservoir Link”)
Reservoir Link was incorporated in Malaysia under the Companies Act 1965 on 2 December 2014 as a public company under its present name and deemed registered under the Companies Act 2016.
Reservoir Link is an investment holding company whereas its subsidiaries are primarily involved in the provision of O&G well related services, which include well perforation, leak repair, testing, wash and cement as well as wireline. Reservoir Link is also involved in the supply of improved oil recovery chemicals and provision of sand management solutions.
More recently, Reservoir Link added to its list of services in the provision and implementation of solar photovoltaic projects for residential, commercial, and industrial properties, large scale solar photovoltaic plants which include supply and installation of solar mounting system and other engineering works involving civil, structural, mechanical and electrical engineering works.
For more information on Reservoir Link, please log on to reservoirlink.com
EDPR Sunseap APAC
Catherine Ong Associates
Tel: +65 9697 0007
Tel: +60 17-980 4293
Tel: +60 10-369 3163