Metronic Signs Pact With Earthtech For Solar Power Business

Since signing an MOU Earthtech Energy Sdn Bhd back in July, Metronic has confirmed its Joint Venture Agreement to regulate their joint venture arrangement to undertake the business activities of carrying out the design, research and development, production and installation of solar power equipment to be marketed and sold as well as to provide after-sales services support thereafter.

Metronic is a RM191 million valued public limited company while ET is a private limited company with its principal activities involved in conducting engineering, procurement and commissioning of solar power project and system. As for Sinaran PPA, its private limited company in solar investment, project financing consultancy and general trading.

Upon completion of the agreement, Metronic will own 70% share in Sinaran PPA with the balance held by ET. The primary objective of incorporation of Sinaran PPA is to carry out the business activities of design, research and development, production and/or installation of solar power equipment to be marketed and sold as well as to provide after-sales service support. Meanwhile Metronic will be responsible for the design, installation, maintenance and servicing of solar panel and such photovoltaic system, including provision of manpower for such services. The PLC will also be providing financing of up to RM10 million when the time arises.

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