KUALA LUMPUR: G Capital Bhd (GCAP) has partnered with KOP Mantap (KOP Mantap) Bhd to develop renewable energy (RE) focusing on solar power.
Both parties inked a memorandum of understanding (MoU) last Friday to establish a framework for collaboration regarding business opportunities and potential business ventures.
These included developing plots of land with high sun exposure to construct, develop, and operate solar photovoltaic plants to house solar power systems to generate electricity and/or other projects to be identified by the parties.
KOP Mantap will lead and develop the project, while GCAP will be responsible for the expertise, knowledge, and know-how to undertake and execute the said project.
Both parties will have the mutual responsibility to appoint contractors, subcontractors, professional consultants or other parties connected with the project.
KOP Mantap is a subsidiary of Koperasi Polis Diraja Malaysia Bhd (KPDRM). It acts as an investment arm of KPDRM, focusing on revenue growth and strengthening its corporate image and human capital.
GCAP executive director Sri Dr Ali Hamsa said the company looks positive about the potential strategic collaboration with KOP Mantap.
"Our vision is to be one of the leading players in the RE segment in Malaysia, and we are confident that this collaboration is a strategic step forward for GCAP group to achieve its goal," he said in a statement.
He said the potential strategic collaboration would potentially grow GCAP's recurring income and aid the nation to reduce its carbon footprint.
Currently, the GCAP group's solar power business arm, Solarcity Malaysia Sdn Bhd, has already bagged a total of 16.6MW power purchase agreement.
Last Friday, the MoU was signed by GCAP's project director Khairul Anuar Mohamad and KOP Mantap group chief executive officer Datuk Muhammad Asri Haris, in the presence of Deputy Inspector General of Police Datuk Seri Mazlan Lazim, and KPDRM chairman Datuk Seri Ayub Yaakob, KPDRM deputy chairman Datuk Ramli Din.