The engineering and project management consultant is poised to make its mark in the nation’s renewable energy sector, as it explores developing solar projects for a cumulative capacity of up to 250 megawatt (MW) within three years together with its strategic partner Shizen International.
HSS Engineering sealed a Memorandum of Understanding (MOU) with Shizen, the overseas arm of the Fukuoka-based renewable energy company Shizen Energy to establish a preferred partnership.
For the record, Shizen is involved in the development of renewable energy source, ranging from commercial facilities to large-scale solar and wind power plants. Besides it also has a portfolio of ground-mounted solar as well as wind projects in operation and under construction in several Southeast Asian countries, including Thailand, Malaysia, Indonesia, Vietnam, and the Philippines.
“HSS’ preferred partnership with Shizen is our firm step into the renewable energy sector. For one thing, we affirm our participation towards achieving the country’s goal of reducing its greenhouse gas emission intensity by 45% by 2030, en route to becoming carbon neutral earliest by 2050,” Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman of HSS Engineers remarked.
“Additionally, this MOU also sets us on the path of establishing our recurring revenue stream, as we explore investing into assets that will provide longer-term sight on earnings. This has been one of our goals even from our Initial Public Offering (IPO) in 2016, and have allocated a portion of balance IPO proceeds for the combined purposes of expansion including venturing into recurring income and long term-based contracts with focus within the power sector,” he elaborated,
