July 29 (Renewables Now) - Malaysian solar power investor IL Energy Sdn Bhd has entered into a memorandum of understanding (MoU) with a unit of Hong Kong-based Shun Hing Group to jointly participate in the third round of Malaysia’s Large Scale Solar (LSS) programme.
Malaysian holding company Integrated Logistics Berhad (KLSE:ILB), IL Energy’s parent, said in a bourse filing last week that the partners would use IL Power Sdn Bhd as a joint venture (JV) to make their bid.
If their bid is successful, Shun Hing Overseas Investment Limited (SHOL) will hold a 30% equity stake in the JV company, while IL Energy will own the remaining 70%.
The third LSS round will award 500 MW of solar projects. The deadline for submissions under the request for proposals (RFP) is August 19, 2019.