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A memorandum of understanding (MoU) that will pave the way for the cooperation between the two was signed at the Sumitomo headquarters in Tokyo yesterday.
The effort is aimed at driving JSB’s renewable energy projects, the two companies said in a joint press statement.
Under the deal, both companies will explore several areas where there is potential for collaboration.
These include a joint-venture and capital allocation into JSB’s present and potential renewable power plant projects, cooperative management of related projects and shared investment and development of upcoming renewable energy initiatives, the statement said.
The ultimate goal, they added, is to establish a “sturdy and resilient renewable energy ecosystem in Malaysia and the region”.
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