Founder Group & GCLSI sign $220M MoU for ASEAN solar projects

Founder Group Limited, an EPCC service provider in Malaysia for PV systems, has entered into a memorandum of understanding with GCL Systems Integration Technology Co., Ltd., a Chinese manufacturer of PV modules and ESS. The deal is to develop renewable energy projects totaling up to $220 million in Malaysia and countries of the ASEAN region in collaboration. The two firms will share information, offer technical support, and carry out internal assessment before signing project-specific agreements. As reported by Founder Group, effective project identification will be followed by formal contracts detailing roles and execution plans. GCLSI will provide system integration, high-efficiency solar cell technology, and financing capability. Founder Group stated that the alliance will strengthen its project delivery capacity and expand its regional portfolio. Founder Group earlier this year acquired two EPCC contracts in Malaysia with an approximate value of $1.5 million.