Reservoir MN Power Partners Explore Potential RE Business Opportunities

KUALA LUMPUR: Reservoir Link Energy BhdThe company’s indirect subsidiary, Founder Energy Sdn Bhd, has signed a Memorandum of Understanding (MoU) with MN Power Transmission Sdn Bhd to explore potential business opportunities in the renewable energy (RE) industry in ASEAN countries.

Under the agreement, both companies will cooperate in sourcing, developing and undertaking all proposed projects, primarily in the renewable energy sector, which will include, among others, solar energy, biogas and biomass projects.

In a filing with Bursa Malaysia today, the company said the memorandum of understanding has been entered into for a two-year period, i.e. from September 12, 2024 to September 11, 2026, extendable by mutual consent in writing.

“The MoU is not expected to have any immediate material impact on the earnings of the company and its subsidiaries for the financial year ending June 30, 2025, but is expected to have a positive impact on earnings if the company enters into any definitive agreements under the MoU,” it said. – Bernama