KUALA LUMPUR: Majuperak Holdings Bhd and Shizen International Bhd are exploring the development of ground-mounted solar photovoltaic projects and assessing potential bodies of water suitable for floating solar photovoltaic projects.
The companies inked a memorandum of understanding for the solar development initiative in Perak.
Majuperak said both parties will also conduct initial feasibility studies and mutually explore investment opportunities.
Group chief executive officer Syed Agil Syed Hashim said the partnership with Shizen offers significant potential for Perak.
"We see Shizen as an ideal partner due to their expertise and proven track record. This collaboration promises the advancement of renewable energy and positive outcomes for local communities including job creation, technology sharing and economic prosperity.
"By joining forces with Shizen Energy Japan, a renowned leader in the renewable energy sector, we are poised to leverage our collective expertise and resources to accelerate the adoption of clean energy technologies in our region," he said in a statement today.
Majuperak executive chairman and Perak State Development Corporation chief executive Datuk Redza Rafiq Abdul Razak anticipates significant progress from the partnership, as they are fully prepared to advance renewable energy generation in Perak.
He added that the initiative aligns with the National Energy Transition Roadmap, which seeks to enhance sustainable energy production in the country while also fulfilling Majuperak's role as a leader in renewable energy under the Perak Sejahtera 2030 agenda.
Perak Menteri Besar Datuk Saarani Mohamad said the state government always welcomes the interest of investors from inside and outside the country who are able to support Perak's aspiration to make the state a famous investment destination in Asia in particular and the world in general.
"It aligns with the state government's Investor-Friendly policies and its vision for green technology and innovation under the Perak Sejahtera 2030 development plan. Transitioning to sustainable practices necessitates joint action.
"This partnership aligns with Perak's dedication to green technology and its efforts to attract investment through Flagship 12: Renewable Energy," he noted.
Shizen International, a subsidiary of Shizen Energy Inc, has been actively engaged in developing and operating renewable energy facilities across Asia, Oceania, and Latin America, encompassing solar and wind power plants since its inception in 2020.
Shizen Energy has developed 1,321.7 megawatt of renewable energy capacity in Japan and internationally.