Jaks Resources Berhad signed a Memorandum of Understanding (MOU) with China Power Engineering Consulting Group International Engineering Co., Ltd.
1. blurb
The board of directors of Jaks Resources Berhad (JRB) announced that its wholly-owned subsidiary JAKS Solar Power Holdings Sdn Bhd (JSPH) signed a Memorandum of Understanding (MOU) with China Power Engineering Consulting Group International Engineering Co., Ltd. (CPECC INT'L) on July 12, 2024 for a large-scale solar photovoltaic power plant project with a total capacity of 2000MW in the Malaysian peninsula Establish exclusive partnerships.
2. CPECC INT'L BACKGROUND
CPECC INT'L was founded in 2014 and is a subsidiary of China Electric Power Engineering Consulting Group Co., Ltd. (CPECC). CPECC is a leading integrated power engineering service provider in China, covering power planning research, consulting and evaluation, survey and design, project supervision, engineering procurement and construction (EPC) projects, investment and operation, and development of proprietary technology products.
3. Key terms of the MOU
- **Joint venture formation**:
- As a leading member of the joint venture, JSPH will hold 51% of the shares and CPECC INT'L will hold 49% of the shares.
- If the bid is successful, the parties will establish a special purpose company (SPV) to implement the project.
- **Cooperation content**:
- Both parties will jointly research, plan, prepare and submit bid documents for the project.
- Both parties will jointly plan and arrange project financing.
- **Cost sharing**:
- Unless otherwise specified in the MOU, any costs and expenses incurred by the parties in preparing the bid documents will be shared according to their respective participation rates (51% JSPH, 49% CPECC INT'L).
- **MOU Effective Period**:
- The MOU takes effect from the date it is signed and is valid for one year, unless both parties agree to extend it.
- The MOU may also be terminated in other circumstances, such as when a final agreement is signed, a project is awarded to another party, or the Energy Commission decides to cancel the RFP process or project.
4. Financial impact
- The signing of this MOU does not create financial obligations for either party until a final agreement is signed.
5. Board statement
- The JRB Board of Directors believes that the terms and schedule of cooperation and MOU with CPECC INT'L are in the best interests of the company.
summed
Jaks Resources Berhad's collaboration with China Power Engineering Consulting Group International Engineering Co., Ltd. represents the company's major strategic initiative in the field of renewable energy. By partnering with CPECC INT'L, JRB is expected to take an advantageous position in large-scale solar photovoltaic power plant projects and achieve greater business growth and financial returns in the future.
For more information on the MOU, please refer to the full document.
The board of directors of Jaks Resources Berhad (JRB) announced that its wholly-owned subsidiary JAKS Solar Power Holdings Sdn Bhd (JSPH) signed a Memorandum of Understanding (MOU) with China Power Engineering Consulting Group International Engineering Co., Ltd. (CPECC INT'L) on July 12, 2024 for a large-scale solar photovoltaic power plant project with a total capacity of 2000MW in the Malaysian peninsula Establish exclusive partnerships.
2. CPECC INT'L BACKGROUND
CPECC INT'L was founded in 2014 and is a subsidiary of China Electric Power Engineering Consulting Group Co., Ltd. (CPECC). CPECC is a leading integrated power engineering service provider in China, covering power planning research, consulting and evaluation, survey and design, project supervision, engineering procurement and construction (EPC) projects, investment and operation, and development of proprietary technology products.
3. Key terms of the MOU
- **Joint venture formation**:
- As a leading member of the joint venture, JSPH will hold 51% of the shares and CPECC INT'L will hold 49% of the shares.
- If the bid is successful, the parties will establish a special purpose company (SPV) to implement the project.
- **Cooperation content**:
- Both parties will jointly research, plan, prepare and submit bid documents for the project.
- Both parties will jointly plan and arrange project financing.
- **Cost sharing**:
- Unless otherwise specified in the MOU, any costs and expenses incurred by the parties in preparing the bid documents will be shared according to their respective participation rates (51% JSPH, 49% CPECC INT'L).
- **MOU Effective Period**:
- The MOU takes effect from the date it is signed and is valid for one year, unless both parties agree to extend it.
- The MOU may also be terminated in other circumstances, such as when a final agreement is signed, a project is awarded to another party, or the Energy Commission decides to cancel the RFP process or project.
4. Financial impact
- The signing of this MOU does not create financial obligations for either party until a final agreement is signed.
5. Board statement
- The JRB Board of Directors believes that the terms and schedule of cooperation and MOU with CPECC INT'L are in the best interests of the company.
summed
Jaks Resources Berhad's collaboration with China Power Engineering Consulting Group International Engineering Co., Ltd. represents the company's major strategic initiative in the field of renewable energy. By partnering with CPECC INT'L, JRB is expected to take an advantageous position in large-scale solar photovoltaic power plant projects and achieve greater business growth and financial returns in the future.
For more information on the MOU, please refer to the full document.
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