Reservoir Link announces first purchase order for LSS project

TheEdge Tue, Sep 07, 2021 09:45pm - 2 years View Original


KUALA LUMPUR (Sept 7): Reservoir Link Energy Bhd said its newly-acquired subsidiary has received a purchase order for subcontracting works for the proposed development of an 100mw large scale solar (LSS) plant in Marang, Terengganu.

This is the first contract announced by the oil and gas player in the renewable energy space, after its acquisition of a 51% stake in Founder Energy Sdn Bhd for RM21.17 million in June.

In a filing today, Reservoir Link said the purchase order was received from Solar Bina Engineering Sdn Bhd, with contractual delivery date of March 31, 2022.

The subcontracting works involves the installation, testing and communication of photovoltaic modules, inverter, DC cables and associated works, with a total estimated value of RM8.42 million.

Shares of Reservoir Link settled up 2 sen or 3.57% at 58 sen today, valuing the group at RM168.46 million.

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