KUALA LUMPUR: SD Guthrie Bhd and Gamuda Bhd’s unit Gamuda Energy Sdn Bhd have signed an agreement to develop solar power assets with a targeted capacity of 1.2 gigawatts (GW).
The companies also aim to own and operate the assets, including energy storage systems, according to a statement.
In the first phase, they will identify SD Guthrie’s unproductive or under-utilised land assets nationwide to assess their potential for solar power development.
The collaboration leverages Guthrie’s vast land bank nationwide and Gamuda’s experience and technical expertise in delivering a growing 3GW pipeline of renewable energy (RE) projects across the Asia Pacific.
With this synergy, the partners aim to capitalise on the surging demand for RE from high-quality offtakers.
This will offer fast-tracked scalable RE supply, which will be critical to meet the sustainability objectives of industrial and data centre players in Malaysia.
SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha said RE is a key new business vertical identified as a pillar of the group’s future, serving as both a sustainable revenue stream and a driver of its net-zero target.
“With Gamuda, we are continuing our strategy of partnering with established and experienced players to provide a strategic pathway for Guthrie to accelerate our expansion into these new verticals,” he added.
He added that the solar assets will also strengthen the long-term value of Guthrie’s land portfolio.
Gamuda Engineering executive director Faris Mohd Yusof said the company is focused on expanding its renewable energy infrastructure portfolio in Malaysia and Australia.
This includes solar, wind, hydro, battery energy storage systems and transmission projects, with more than 3GW of renewables at various stages of deployment.
Faris added that the joint venture, backed by Gamuda’s experience in large-scale solar farms and AD Guthrie’s extensive landbank, is well positioned to deliver renewable energy solutions at scale for multinational partners.
“Our end-to-end delivery will be supplemented by our strategic stake in ERS Energy with their strong solar EPCC track record across the Philippines, Vietnam, Singapore, Australia and of course, in our home country, Malaysia,” he said.
© New Straits Times Press (M) Bhd
