KUALA LUMPUR: Widad Group Bhd has entered into a memorandum of collaboration (MOC) with Motion Ventures Sdn Bhd for the provision of facilities management to renewable energy projects in Peninsular Malaysia.The solar power facilities comprise community solar projects and large-scale photovoltaic plants with a total capacity of 1,000MW, it said in a statement issued today.The collaboration is expected to enhance its integrated facilities management service offerins and potentially expand the company's revenue and customer base.“Having considered all the relevant aspects including the rationale and effects of the MOC, the Board of Directors of Widad is of the opinion that the MOC is in the best interests of Widad Group,” said Widad Group managing director Datuk Mohd Rizal Mohd Jaafar.The collaboration will be effective for 12 months upon the executive by the parties with the option to extend upon mutual agreement.The MOC is not expected to have any material effect on the earnings per share, net assets per share and gearing of Widad Group for the financial year ending Dec 31, 2021, it said.Widad has an outstanding order book of RM718.8mil for its integrated facilities management and construction business.Motion Ventures is principally engaged in the business of property, general commission agent, construction works and design, electrical and mechanical, telecommunication and information technology.Currently, it owns and operates 66 community solar projects in Malaysia whereby all the electricity generated from the community solar projects shall be supplied into the grid via the Renewable Energy Power Purchase Agreement.
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