KUALA LUMPUR (Aug 16): HSS Engineers Bhd (HEB) has inked a memorandum of understanding (MoU) with three parties to form a consortium for the sole purpose of preparing and submitting a joint proposal to Suruhanjaya Tenaga Malaysia for the third edition of the large scale solar scheme (LSS3).
The engineering and project management consultant said the MoU to form SHS Consortium was signed with Sapura Secured Technologies Sdn Bhd (SSTSB), Synergy Generated Sdn Bhd (SGSB) and Penor Renewable Energy Sdn Bhd (PRESB).
“In the event that the joint proposal is successful, all four parties involved will incorporate a special purpose vehicle (SPV) company to ensure the successful implementation of the project,” it said in a statement today, adding that HEB will hold a 28.5 per cent stake in the SPV.
Under the consortium, the parties will collectively develop, finance, design, supply, install, operate and maintain a large scale solar photovoltaic power plant in Peninsular Malaysia.
HEB executive vice-chairman Tan Sri Ir Kuna Sittampalam said the consortium will also extend its engineering expertise to advance the nation’s power sector.
“The renewable energy segment is poised for a high growth trajectory, in line with the government’s target of generating 20 per cent of the country’s power requirements from clean energy sources by 2025.
“We intend for this venture into the power sector to propel the fulfilment of the national agenda,” he said.
According to HEB, SSTSB is involved in mission-critical technology innovation in the areas of secured information and communication, offering solutions including hardware and software engineering, research and development, system-on-system integration, mission-critical service delivery and infrastructure development.
Meanwhile, SGSB and PRESB are principally engaged in the business of renewable energy in Malaysia, with SGSB focusing on engineering, design, development, operation and maintenance of large-scale solar plants.
In February 2019, the government opened the competitive bidding process for an estimated RM2 billion worth of projects under the LSS3 scheme to boost electricity generation from renewable energy.