Plus Solar Systems has undergone a rebranding exercise and now calls itself, Plus Xnergy Services Sdn Bhd, the company is primarily involved in solar panel EPCC while Plus Xnergy Edge Technologies Sdn Bhd is the technology-focused subsidiary.
Ko Chuan Zhen, Group CEO believes with the rebrand, the group will be able to bring new, innovative offerings and is also looking to expand its footprint into the B2C segment with potential to convert 3.2 million residential properties. It targets to outfit 2,000 houses with solar power, and up to 5,000 by its second year.
In order to make investment to equip solar solutions in homes for affordable, Plus Xnergy has devised a solar rent-to-own program that can grant long term savings. The program is touted to save up to 90% of a household’s monthly electricity bills. Instead of monthly grid electricity payments, users can divert this expense to offset the solar setup’s cost, resulting in minimal to zero increases in monthly expenses. After rental payments of approximately 5 years, the solar setup will be owned by the residents. Within the period of repayment, operations and maintenance costs are borne by Plus Xnergy, removing any hidden costs. It has a warrantied performance period of up to 25 years, allowing continued gains.
On financial performance, the group is optimistic on the market growth and confident in projecting a revenue growth of RM500 million in three years. It also foresees expansions to two new countries, in addition to plans to secure up to 100MW in large scale solar (LSS4) projects as well as to diversify into Energy Storage Systems (ESS), electric vehicle (EV) chargers and floating solar.
