Reservoir Link Energy Bhd partners in solar power project in Malaysia
Representative image. Credit: Canva

Reservoir Link Energy Bhd (RLEB) has taken a significant step towards renewable energy development with the signing of a shareholder agreement (SA) for a landmark solar power project in Kedah, Malaysia. The agreement, signed on March 20, 2024, involves Reservoir Link Renewable Sdn Bhd (RLR), a subsidiary of RLEB, and includes Sumitomo Corporation (SC), MAQO Engineering Sdn Bhd (MESB), and SRMutama Selambau Sdn Bhd (SUS).

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The primary objective under the SA is to develop, implement, own and operate a 29.99MWac ground-mounted solar power project. SUS was established with an initial capital of RM1,000,000, with the investment ratio of each shareholder as follows:

  • RLR: 29%
  • SC: 49%
  • MESB: 22%

This agreement takes effect immediately and remains in effect until certain events occur, such as the dissolution of the company or unanimity of the shareholders. Additionally, the share capital may be increased in accordance with the company’s requirements and obligations under the SA.

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RLEB’s Board of Directors expressed confidence in this agreement and confirmed that it is consistent with the best interests of the company. No shareholder approval or regulatory approval is required to implement the SA.

This announcement highlights RLEB’s commitment to sustainable energy practices and marks an important milestone in our efforts towards renewable energy adoption.

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