BGMC Forms Malaysia Renewable Energy Venture for Data Center Projects; Shares Slip 3%
BGMC International (HKG:1693) said its indirect subsidiary, Golden Sun Solar Energy, entered into a heads of terms with reNIKOLA to jointly develop renewable energy projects in Malaysia, according to a Friday Hong Kong bourse filing. The parties will establish two jointly owned project companies to develop two solar photovoltaic facilities, each with export capacity of up to 300 megawatts, integrated with battery energy storage systems. The projects are expected to supply renewable electricity to an existing 300-megawatt data center in Johor under Malaysia's Corporate Renewable Energy Supply Scheme. BGMC and reNIKOLA will each hold a 50% stake in the joint ventures and will later enter into a shareholders' agreement governing the projects. Shares of BGMC were down nearly 3% in Monday morning trade.
BGMC International (HKG:1693) said its indirect subsidiary, Golden Sun Solar Energy, entered into a heads of terms with reNIKOLA to jointly develop renewable energy projects in Malaysia, according to a Friday Hong Kong bourse filing.
The parties will establish two jointly owned project companies to develop two solar photovoltaic facilities, each with export capacity of up to 300 megawatts, integrated with battery energy storage systems.
The projects are expected to supply renewable electricity to an existing 300-megawatt data center in Johor under Malaysia's Corporate Renewable Energy Supply Scheme.
BGMC and reNIKOLA will each hold a 50% stake in the joint ventures and will later enter into a shareholders' agreement governing the projects.
Shares of BGMC were down nearly 3% in Monday morning trade.