Reservoir Link Energy Bhd, an energy-related services provider, announced today that it will be collaborating with ADS Asset Holdings Sdn Bhd to enter into a joint venture and shareholder agreement (“JV & SA”) to jointly co-fund, construct and develop energy storage solutions.
Under this JV & SA, both parties have agreed to treat RL ADS Power Sdn Bhd as a joint venture company with Reservoir Link having the majority stake of 51% and AAH with the remaining 49%.
Energy storage solutions aim to reduce wastage and inefficiency from energy generated through renewable energy infrastructures. This will be via the introduction of environmentally sustainable and low-cost battery solutions which are able to store the energy generated from renewables which can alternatively be utilised for commercial and industrial applications making renewable energy more viable.
Reservoir Link Executive Director Thien Chiet Chai said, “As we continue to make strides in growing our renewable energy segment, we are excited to announce the next phase of our journey spearheaded by our involvement in energy storage solutions along with AAH.
We recognise the upside potential that this technology will be able to bring to the market given the strong demand ever since the introduction of renewable energy. With the adoption of renewables growing ever so rapidly, it is only natural that green technologies such as energy storage solutions would become the next key focus to enhance the renewables ecosystem. Marching forward, Reservoir Link remains committed to its existing business yet taking calculated steps in green technologies and will continue to look for potential partners which are able to contribute to our foray into this space.”
