Type Announcement Subject MEMORANDUM OF UNDERSTANDING Description ADVANCECON HOLDINGS BERHAD ("ADVANCECON" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING BETWEEN ADVANCECON SOLAR SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND YHI MANUFACTURING (MALAYSIA) SDN BHD 1. Introduction
The Board of Directors of Advancecon Holdings Berhad (“Advancecon” or “the Company”) wishes to announce that Advancecon Solar Sdn Bhd (“Adv Solar”), a wholly-owned subsidiary of the Company had on 29 June 2020 entered into a Memorandum of Understanding (“MOU”) with YHI Manufacturing (Malaysia) Sdn Bhd (Registration No. 200401026362 (664870-X))(“YHI”) to develop rooftop solar photovoltaic system under the Net Energy Metering (“NEM”) scheme on the rooftop of YHI’s premises located in Kawasan Perindustrian Bukit Rambai, in the state of Malacca (“YHI’s Premises”) (“the Project”) with the adoption, execution and implementation of the Supply Agreement with Renewable Energy (“SARE”) between YHI and Adv Solar with Tenaga National Berhad (“TNB”).
We refer to the Company’s announcement made on 18 February 2020 in relation to the MOU.
Unless otherwise stated, all definitions used throughout this announcement shall have the same meaning as defined in the earlier announcement.
The Board of Directors of the Company wishes to update the following:
1. Advancecon Solar had received the approval from Tenaga Nasional Berhad for the Net Energy Metering Assessment Study (“NEMAS”) for a total of 777.04 kWp on 8 July 2020 via a letter dated 30 June 2020.
2. The approved total capacity represented an additional 190.96 kWp versus 586.08 kWp stated in the MOU. The increase was mainly due to changes made in the solar system design to achieve maximum attainable capacity for Oon Corp’s premises.
3. An application to obtain Net Energy Metering (“NEM”) quota from SEDA will be made soonest followed by the signing of Supply Agreement of Renewable Energy (“SARE”) once the NEM quota is obtained.
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Trapps
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Posted by Trapps > 2020-06-11 22:14 | Report Abuse
Ahaha..waiting for u..