Studying Time: 2 minutes
PESTECH (Cambodia) Plc. (PCL) enters right into a Memorandum of Understanding (MOU) with Attwood Funding Group Co. Ltd. (AIG) in relation to a collaboration on the event of two feasibility research pertaining to the development or possession and operation of unpolluted vitality or solar-based belongings in Cambodia particularly in:
- Pailin Province the place photo voltaic belongings could be used to offer electrical energy to M.S.P Growth Firm Ltd (MSP) on a wholesale foundation for on-sale to retail prospects; and
- Rooftop photo voltaic throughout the Steung Hav Particular Financial Zone (SEZ).
MSP owns an influence distribution license issued by the Electrical energy Authority of Cambodia, giving it the rights to produce electrical energy to an estimated 15,000 residential and industrial shoppers in Salakroa District and Krong Pailin in Pailin Province. Whereas, Steung Hav SEZ is a greenfield industrial zone at the moment being developed by AIG, which has a complete growth space of about 200 hectares.
PCL, a public firm integrated within the Kingdom of Cambodia and listed within the Cambodia Securities Trade, is a subsidiary firm of PESTECH. It primarily engaged within the enterprise of building {of electrical} substations and transmission traces.
AIG, a personal firm integrated within the Kingdom of Cambodia, is engaged in diversified enterprise corresponding to property growth and administration, industrial actual property, buying and selling and shopper items, energy distribution, monetary companies, and funding.
Beneath the MoU, the Events shall cooperate collectively to finish the Feasibility Research and formulate a license and approval technique and embed the necessities of unpolluted vitality era. The target of the Feasibility Research is to supply each competitively priced clear and standard vitality mixes to prospects whereas offering potential traders a market-based risk-adjusted monetary return.
The MoU between the Events will enable PCL to contribute and strengthen its experience in renewable vitality whereas being dedicated to sustainable growth.
The MoU will come into impact on the date of signing of the MoU and can stay in impact for 8 months from the efficient date. The Events might mutually agree in writing to increase the time period of this MoU.
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