DPS Resources Bhd (DPS) has entered a Joint Venture Agreement (JVA) through its subsidiary DPS Energy Sdn Bhd (DPSE) with Mutiara Mahajuta Sdn Bhd (Mutiara). This strategic partnership aims to develop a sprawling 170-acre land in Mukim of Sungai Siput, Daerah Alor Gajah, Melaka, heralding innovative ventures in agro-tourism, renewable energy, and sustainable agriculture.
DPSE, specialising in solar farms, AI data centres, and green energy solutions, will spearhead the development under the stewardship of DPS Resources Berhad Executive Director, Eugene Sow Chuan Sheng.
Mutiara brings comprehensive development agreements with landowners, outlining a phased 30-year plan extendable by 15 years.
In a Bursa Malaysia listing today, DPS said the initial phase will focus on establishing agro-tourism attractions, cultivating crops, and deploying bio-farming and aquaponics systems. Subsequent phases will prioritize renewable energy initiatives, notably the construction of a solar farm, followed by mixed-use developments encompassing residential, commercial, and industrial components.
The project's timeline spans 21 to 25 years, with DPSE granted the first right of refusal for additional solar farm expansions or mixed-use projects. Profit-sharing terms allocate 35% of net profits to Mutiara and 65% to DPSE.
Tan Sri (Dr) Sow Chin Chuan, Executive Chairman of DPS Resources Berhad, said: "Our collaboration with Mutiara Mahajuta strategically leverages our green energy expertise, driving sustainable growth and supporting Malaysia's renewable energy objectives. This initiative underscores our commitment to innovation in agro-tourism and renewable energy, delivering lasting benefits to stakeholders and the community."
Strategically positioned for accessibility and optimal sunlight exposure, the site promises ideal conditions for solar energy generation, reinforcing its long-term profitability and contribution to DPS's financial stability.
Aligned with national ESG standards and Malaysia's renewable energy targets, the venture is poised to catalyze economic opportunities, bolster food security, and mitigate carbon footprint. The Malaysian Renewable Energy Market, poised for significant growth, underscores the project's strategic timing and potential impact.
The joint endeavour signifies DPS's steadfast dedication to sustainable development, marking a significant stride towards advancing environmental stewardship and community prosperity.