Renewable Energy is the biggest beneficiary this year in terms environment protection, amidst the ravaging pandemic the bright spot that we can all cheer to is that RE has taken off well in 2020 mainly due to the awareness on climate change which received quite a bit of attention. This attention has drawn many industry players to focus on their businesses and find ways to engage in RE or be part of the growing supply chain. HSS Engineering, a company involved in wide array of sectors including urban infrastructure, transportation planning, roads and highways is revising IPO proceeds and ploughing into RE.
The company is proposing to allocate RM15.0 million into the local power sector, mainly in renewable energy, it is already exploring and evaluating new projects and opportunities in relation to the local sector, including solar and wind energy, waste to energy, small hydro and biomass/biogas plants. HSS has gone into various tenders including the Net Energy Metering (NEM) for industrial factories or hypermarkets, Large Scale Solar @ MEnTARI (LSS) and small hydro projects in Malaysia.
“We are revising the IPO proceeds to align our future plans with the Malaysian Government’s sustainability agenda and evolving regional landscape amidst the COVID-19 pandemic said Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman
Malaysia received 365 days of sunlight giving opportunity to many investors to venture into solar however HSS has other plans to generate green energy by venturing into tenders involving biogas, biomass and wind which incidentally forms part of its arrangements within the power sector. This is in line with the government’s initiatives to grow the country’s current renewable energy mix from 2% to a target of 20% by 2025 and reduce reliance on fossil fuel.
HSS Engineering Group currently has orders for work on major urban transportation projects including for ECRL, Iskandar BRT, Pan Borneo Highway, Westports, Mass Rapid Transit 2: Putrajaya Line (previously known as Sungai Buloh-Serdang-Putrajaya Line), Langat 2 Water Supply Scheme and Kwasa Damansara. Not withstanding pitching for key mega projects such as the Kuala Lumpur- Singapore High Speed Rail (KL-Spore HSR), Mass Rapid Transit Line 3 (MRT 3), Penang Transport Master Plan (PTMP), Johor Bahru – Singapore Rapid Transit System (RTS) and Pan Borneo Highway (Sabah) moving forward.