July 17 (Renewables Now) - Malaysian construction services firm Kumpulan Jetson Bhd (KLSE:JETSON) and Helios Photovoltaic Sdn Bhd will together compete for contracts for the design, construction and completion of solar projects in Sabah.
Jetson said today the two companies have entered into a heads of agreement (HOA), under which they would form a special purpose vehicle (SPV) to undertake any secured project. The plan is for each party to hold 50% in the joint venture, but other proportions may also be discussed.
Helios sells solar energy products and offers engineering, procurement, construction and commissioning (EPCC), and other services to solar projects. It has been involved in solar power projects whose combined value exceeds USD 40 million (EUR 34m), according to the press release.