Plus Xnergy Forms Joint Venture In Big Push For Clean Energy
Plus Xnergy has teamed up with Yinson Renewables to jointly invest and develop solar photovoltaic projects within and beyond Malaysia
Clean energy solutions provider Plus Xnergy, co-founded by Gen.T honouree Ko Chuan Zhen, has formed a joint venture with Yinson Renewable, a subsidiary of energy infrastructure and technology company Yinson Holdings. The joint venture will see both companies develop and implement commercial and industrial rooftop solar photovoltaic (PV) projects.
Both parties have interests in investing and developing up to 250-megawatt projects, including some outside of Malaysia. The joint venture will see Plus Xnergy leverage its strength as a leading solar system provider while Yinson leans on its network and experience in the energy space.
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With the formalisation of the joint venture, the two companies aim to accelerate the implementation of clean energy in the commercial and industrial sectors. In addition, they want to develop solar PV projects via a power purchase agreement scheme that is a solar financing solution in which the business does not incur capital expenditure when adopting solar solutions.
"During these challenging times brought upon us by the pandemic, overhead expenses such as electricity bills become a burden to many businesses," says Ko. "Through the synergies created with this collaboration, PXS and Yinson Renewables can offer businesses a chance to significantly lower their monthly electricity bills at zero upfront costs to them."
Plus Xnergy was co-founded by Ko in 2013 and has evolved over the years, going into solar farm development and eventually becoming an integrated clean energy solutions provider. Following the Covid-19 lockdowns in Malaysia in 2021, the company launched an intelligent cloud-based artificial intelligence Internet of Things (AIoT) energy performance management system to help its clients manage their electricity consumption.
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