KUALA LUMPUR (March 4): Eco World Development Group Bhd (KL:ECOWLD) said on Tuesday that it is selling a plot of industrial land for RM119 million to a Chinese firm setting up a plant in Malaysia.

The planned sale of the land measuring 32.9 acres in Eco Business Park II in Senai, Johor, follows an earlier announcement by Ningbo Deye Technology Co Ltd to invest up to US$150 million (RM668 million) in a new manufacturing base for solar equipment in Malaysia.

"As a leading manufacturer of comprehensive solar photovoltaic systems, Deye’s presence here perfectly aligns with our aims to work with companies that make a positive contribution to lowering our collective carbon footprint,” said Liew Tian Xiong, the deputy CEO of EcoWorld Malaysia, in a statement on Tuesday.

Deye solar inverters reportedly maximise efficiency, minimising energy waste and supporting the country's shift to sustainable, cost-effective, and eco-friendly energy solutions.

Deye will be manufacturing both solar inverters and energy storage systems in Eco Business Park II.

Deye's investment is expected to boost Malaysia's solar industry by creating jobs in manufacturing, installation, and maintenance as Southeast Asian market demand grows.

“Deye’s decision to make such a sizeable investment in Iskandar Malaysia also speaks volumes of the state’s success in attracting high-value-added, technologically advanced manufacturers to build up the country’s green supply chain,” said Liew.