KUALA LUMPUR (July 17): Kumpulan Jetson Bhd has teamed up with Helios Photovoltaic Sdn Bhd to bid for solar power projects in Sabah.

In a filing with Bursa Malaysia today, Jetson said it has entered into a Heads of Agreement (HoA) with Helios Photovoltaic Sdn Bhd to jointly bid for the proposed projects, as well as to co-operate to procure the award of the whole or any of the contract packages for the proposed projects.

Helios is a dealer of solar energy products, offering services ranging from delivering solar power solutions to clients through design and build, consulting and project management.

Jetson said Helios has secured and completed numerous solar power projects with valued at more than US$40 million since its incorporation including the implementation of solar power projects in Kapit and Song districts, Sarawak.

Under the HoA, the two companies will form a special purpose vehicle (SPV) to undertake the proposed projects, with both holding an equal stake in the SPV.

Jetson shares closed down 0.5 sen or 2.17% at 22.5 sen today, for a market capitalisation of RM46.5 million.