Samaiden, Chudenko in tie-up to explore opportunities in RE markets

KUALA LUMPUR: Samaiden Group Bhd has entered into a collaboration with Tokyo-listed Chudenko Corp to explore opportunities in renewable energy in Malaysia and overseas markets.

Chudenko, a leading engineering firm in Japan and affiliate of Japan’s electric company Chugoku Electric Power Co Inc, is a substantial shareholder of Samaiden with a 15.15% equity stake.

In a statement, Samaiden said the agreement includes a joint investment or venture in renewable energy projects including a rooftop solar energy project for Japanese customers, and collaboration in the introduction of technology in operations and maintenance of renewable energy projects as well as other technologies.

“This collaboration allows us to leverage on each party’s strengths to accelerate growth in the RE sector while enabling us to tap on Chudenko’s broad business network, especially in the area of renewable energy business.

“Not only does it open us up to business prospects in Japan, but the group can also leverage on Chudenko’s technical know-how to enhance our existing offerings.

“Conversely, Samaiden’s RE expertise can be valuable in Chudenko’s decarbonisation initiatives,” said Samaiden group managing director Chow Pui Hee.

Meanwhile Chudenko managing executive officer Takakazu Higashika said Samaiden represents an ideal proxy for Chudenko to expand usage of various renewable energies for electricity generation.

Source : The Star (Online)