KUALA LUMPUR (Dec 12): Solarvest Holdings Bhd (KL:SLVEST) is partnering with Singapore-based renewable energy (RE) company, Vista Contracting and Investment Global Pte Ltd, to jointly develop rooftop and utility-scale solar projects in Malaysia, Brunei, Taiwan and Cambodia.

In an exchange filing on Thursday, Solarvest said it has entered into a Memorandum of Understanding (MOU) with Vista for the collaborations, which is effective for at least two years.

Vista is principally involved in the investment and development of RE projects, with a specific focus on rooftop and utility-scale solar power systems, according to Solarvest. The company specialises in the promotion, implementation and management of solar energy solutions.

“The parties [Solarvest and Vista] desire to combine their expertise and experience to ensure commercial and strategic advantages,” it said.

Currently, the MOU is not expected to have any material impact on Solarvest’s earnings for the financial year ending March 31, 2025.

“Upon the successful implementation and fulfilment of the proposed collaboration, it is expected that the proposed collaboration will contribute positively to the future financial performance of Solarvest,” it added.

Shares in Solarvest closed one sen or 0.61% lower at RM1.62 on Thursday, with a market capitalisation of RM1.17 billion.