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Boustead Partners with Sinohydro to Explore Renewable Energy

Boustead Partners With Sinohydro to Explore Renewable Energy Ventures And Strengten Green Pursuit For Sustainable Ecosystem

by Shah Farouq

Boustead Holdings Berhad (Boustead) takes another leap forward in its Reinventing Boustead strategy with the signing of a Memorandum of Understanding (MoU) with Sinohydro Bureau 9 Co. Ltd. International Company (Sinohydro) today. 

Sinohydro is a wholly owned subsidiary, international brand, and flagship business of  Power Construction Corporation of China (PowerChina), a market leader in engineering and construction projects as well as the driving force behind the People’s  Republic of China’s (PRC) industrial development. 

The MOU was signed by Boustead Group Managing Director, Dato’ Sri Mohammed Shazalli Ramly and Sinohydro General Manager, Liu Zhi Yong in a virtual signing ceremony.

Among the people who watched the event on the digital platform were Boustead Deputy Group Managing Director, Izaddeen Daud and other senior management team members.

Dato’ Sri Mohammed Shazalli said that the partnership with Sinohydro aims to significantly explore the country’s current available renewable energy resources. 

“With  our  commitment  to  renewable  energy  for a greener future,  we  have  created  Boustead Hijau Agenda, or BIJAU, which represents our strong green initiatives that are able to fortify Environmental, Social and Governance (ESG) efforts to safeguard sustainable growth.

“This agenda is focused on sustainability-oriented innovation which  provides solutions for global and national ESG challenges, improve our ESG  performance and address ESG risks.

“In line with our Reinventing Strategy as well as our  commitment to become the nation’s leading green technology player, Boustead has the infrastructure to explore  and  consider  solar  farming  (land,  water  and  air),  solar  panel  manufacturing,  solar  energy use case and accessibility and other new innovative opportunities,” he stated.

He added that by partnering with Sinohydro, they hope to learn and understand from their expertise  in engineering, procurement, and construction to develop land and water based solar  farming within the group’s available assets.  

“We  are  also  looking  at  the  potential  ecosystem  of  energy  independence  with  renewable  energy  roof  top  solar  targeted  for  usage  in  commercial  and  residential  buildings,  as  we  have  access  for  implementation  at  our  property  and  industrial  developments in areas such as hotels and car parking areas. 

“Our potential commencement towards this renewable energy technology and energy  saving exercise is envisaged with firstly a pilot project at our own properties,” he emphasized.

Dato’ Sri Mohammed Shazalli said Boustead  will  also  explore  solar  manufacturing  projects  of  producing  photovoltaic  products  with  its  subsidiary  UAC  Berhad  as  the  manufacturer while Sinohydro will act as the strategic technology and marketing partner.   

“To further strengthen Boustead’s commitment in the adoption of innovative solutions  and reinvent the Group as the nation’s leading renewable energy asset developer, we  aim  to  explore  and  propose  to  Sinohydro  other  large-scale  projects  such  as  water  irrigation  and  conservation,  farming,  railway,  subway,  road,  airport  and  housing  construction, water environment treatment, urban infrastructure construction as well as  civil engineering and construction projects.

“Looking forward, we have identified the potential of concentrated solar power (CSP) in the form of microturbine solar power systems where we envision the use of this technology in supplying energy needs for domestic and commercial applications. Microturbine solar power systems can significantly contribute to the future demand of renewable energy resources while reducing  greenhouse gas emissions to meet  our low-carbon energy goals.

“This venture is set to be part of Boustead’s new sustainable revenue streams to create  a new business ecosystem for employment and vendors as well as strengthen a new sector of economy that will be beneficial for the people and the country,” he said.

He concluded that they can potentially create new employment for army veterans which is Boustead’s main vision in business, to enhance the lives of the Malaysian Armed Forces service members, veterans and their family members.

Liu Zhi Yong said that the partnership with Boustead presented a good opportunity for Sinohydro to work closely with the Group and that the MOU was a shining example of the on-going and positive relations between PRC and Malaysia. 

“This MOU  ceremony  signifies  the  mutual  trust  between  our  two  countries and as Sinohydro has a strong presence in the construction and engineering industry in PRC  while continuously  setting the bar on innovation and technological improvement in various sectors of the business, we look forward to working with Boustead in strong  cooperation and support,” he added.  

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