Sunview Group Berhad, a major player in renewable energy (RE) endeavors, has announced a preliminary joint venture agreement with Vision Ambassadors Company for International Trade Consultancy, LLC, aimed at establishing Sunview (Middle East) LLC. The collaboration seeks to explore and invest in RE opportunities across the Middle East, Gulf Cooperation Council, and Central Asia regions.
Under the agreement, Sunview’s subsidiary, Fabulous Sunview Sdn Bhd, will hold a 40% stake in the newly formed special purpose vehicle (SPV), with Vision Ambassadors holding the remaining 60%. The SPV, capitalized at SAR 100,000.00 (approximately RM127,533.00), will focus on identifying potential RE projects, coordinating with relevant stakeholders, and investing in these initiatives.
Fabulous Sunview will leverage its expertise in engineering, procurement, construction, and commissioning (EPCC) to assess project viability and provide necessary services. HP Ong, executive director and chief executive officer of Sunview Group Berhad, expressed enthusiasm for the collaboration, highlighting its potential to drive innovation and sustainability in the RE sector.
Ong emphasized the joint venture’s significance in accelerating the adoption of RE technologies across diverse regions, citing its potential to foster positive environmental and societal impacts.
The partnership between Sunview Group Berhad and Vision Ambassadors marks a strategic move to capitalize on emerging RE opportunities in the Middle East and Central Asia. With a focus on innovation and sustainability, the joint venture aims to drive positive change while advancing the adoption of renewable energy solutions in the target regions.
