02/11/2020

KUALA LUMPUR (Nov 2): OpenSys (M) Bhd said its dedicated online solar energy platform buySolar had gained traction among industry players.

On Feb 18 this year, its subsidiary OpenSys Technologies Sdn Bhd launched buySolar, a one-stop online solar marketplace platform aimed to empower consumers with choices, to facilitate the end-user market with the services offered by key solar energy stakeholders.

OpenSys today signed a collaborative agreement with engineering, procurement, construction, and commissioning (EPCC) provider Solarvest Energy Sdn Bhd, a subsidiary of Solarvest Holdings Bhd.

In a statement today, OpenSys said the EPCC partner will design the solar system as per customers’ premises, apply for the necessary licences, procure products as well as construct, test and commission solar panels.

It said Solarvest is a well-recognised brand in the solar industry which had made its mark and built an extensive track record of solar projects across the residential, commercial and industrial as well as Large Scale Solar (LSS) segments.

OpenSys Technologies chief operating officer (COO) Luke Sebastian said since buySolar’s launch in February 2020, the firm had noted an encouraging response from both individual homeowners and organisations — making up 80% and 20% of enquiries respectively.

He said additions of prominent solar energy EPCC providers as well as financial partners would increase the competitiveness of buySolar, and benefit potential customers by providing a wider selection of options to match their needs and requirements.

“Expanding the industry player base further simplifies the process for consumers as it promotes choice and customisation in helping consumers adopt solar solutions and financing options. We want to enable every user to harness solar energy.

“Our goal is to continue making buySolar a more vibrant platform, and we aim to register 10 service providers, banking and insurance partners by December 2020, as we hope to make buySolar the leading dedicated online marketplace for solar panel and solar-related services in Malaysia.

“We are heartened to play a role in catalysing the nation’s goal of achieving the 20% renewable energy target by 2025,” he said.

Meanwhile, Solarvest group chief executive officer (CEO) Davis Chong Chun Shiong said the buySolar platform would be a catalyst for the firm to expand its market reach as it enables connections with potential customers and more solar specialists.

“We believe that it is paramount for market players to work together across the value chain to expand and elevate the domestic solar ecosystem to the next level.

“While Malaysia has been one of the thriving solar markets in Southeast Asia, there is still room for growth in meeting the government’s 20% renewable energy mix target by 2025.

“More than four million buildings with solar rooftop potential remain untapped and thousands more megawatts of renewable energy [need] to be fulfilled to reach the national target.

He added that the outlook is bright.

At 10.50am today, Opensys had shed 5.36% or three sen to 53 sen, valuing it at RM236.82 million.

Source: The Edge Markets