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Solarvest ventures into Taiwan renewable energy market

Solarvest ventures into Taiwan renewable energy market

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KUALA LUMPUR : Solarvest Holdinsg Bhd is venturing into Taiwan via the acquisition of a majority stake in a joint venture with local renewable energy company.

Solarvest, in a filing with Bursa Malaysia today, said it has entered into a deal to buy a 51% stake in Tailai Energy Co Ltd from HsinKing Co Ltd for RM445,230.

“The Proposed Acquisition serves as a platform for Solarvest to venture into the Taiwan market for the solar industry, which is in-line with Solarvest’s business strategy for expanding its operations in the overseas market,” it said.

Hsinking, a solar energy investment company, remained a shareholder in Tailai with a 49% stake.

Source : thestar
Anand Gupta Editor - EQ Int'l Media Network