Solarvest, Holdings Bhd entered a Memorandum of Understanding (“MOU”) with NCT Land Sdn. Bhd. (“NCT”) for the purpose of jointly conducting development plans to support the decarbonization ambitions of both Parties within a selected region, reducing the industrial and commercial carbon footprint via the development of 1000 units of solar-ready factories and warehouses at Selangor Smart Industrial Park.
The scope of the MOU includes the provision of decarbonization services to NCT’s local facilities. The joint development plan between both Parties will produce options in potential areas for further collaboration, including but not limited to Renewable Energy such as Solar and Bioenergy, Hydrogen, Energy Efficiency, and Electric Mobility.
This MOU shall expire: (a) when both Parties have agreed on the options of joint decarbonization efforts; (b) when both Parties have incorporated a SPV for the Purpose; and/or (c) two (2) years from the date hereof automatically.