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Jan 19,2024
On January 15, EVE Energy Malaysia Sdn. Bhd., a wholly-owned sub-subsidiary of EVE Energy, and Invest Kedah Bhd. signed a memorandum of understanding in Huizhou. The two parties plan to establish EVE Energy Storage Malaysia Company, acquire land for the phase II project, and start the construction of an energy storage plant, in a bid to meet Malaysia's demand for energy storage.
YB Dr. Haim Hilman Bin Abdullah, Kedah State ExCo, and Steven Chen, Vice President of EVE Energy signed the memorandum on behalf of the two parties respectively. Mohd Aidil Akmal Bin Sharidan, Special Officer to Honourable Exco, Noor Ikhsan Abd Aziz, Chief Operating Officer of Invest Kedah Berhad, Dr. Liu Jincheng, Chairman of EVE Energy, Aaron Chen, Vice President of EVE Energy and Dr. Anson Chen, General Manager of EVE Energy's Overseas Business Division attended the ceremony and witnessed the signing.
In terms of energy transition, Malaysia is ahead of the rest of Southeast Asia. In order to achieve the goal of carbon neutrality by 2050, the Malaysian government issued a national energy transition roadmap in 2023. It plans to increase the proportion of installed capacity of renewable energy from 25% to 70% by 2050 and propel the development of the renewable energy market from policy, finance, and market. This has brought unprecedented opportunities for Malaysia's renewable energy market.
Dr. Anson Chen said that since the investment and construction of EVE Energy's manufacturing facility in Malaysia or its 53rd factory last year, we have developed mature manufacturing capacity and technical reserves, injecting momentum into the local economy and winning the Malaysian market's extensive favor. Based on the past successful cooperation and the booming development of Malaysia's energy market, EVE Energy and Invest Kedah have reached a new consensus on cooperation in the field of energy storage.
Mr. Noor Ikhsan Abd Aziz sincerely thanked EVE Energy for its trust, and said that Invest Kedah would fully support the development of EVE Energy in Kedah. As the core investment promotion department of the Kedah State Government, Invest Kedah successfully attracted a record-high investment of MYR 68.3 billion in 2021, fully demonstrating its influence on the development of the Kedah State Government and enterprises.
In its in-depth strategic cooperation with Invest Kedah, EVE Energy will abide by Malaysia's laws and regulations, respect its national conditions, give full play to its own advantages in energy storage technology innovation, quality capability, factory construction and digital operation, improve the efficiency of green energy production and utilization, realize coordinated development between industrial production and environmental protection, and make great contributions to sustainable development for human beings.
