Interviewed by Bernama: Plus Solar Optimistic of Delivering Good Results in FY21

19 Oct 2020

Going solar for Malaysian businesses have never been easier. With the extension of the Green Investment Tax Allowance (GITA) till 2023 and the NEM 2.0 in place, business owners are able to enjoy tax relief, lower their OPEX and reduce organisational carbon footprint. As solar in Malaysia continues to mark strides towards a greener future, Plus Solar shared with Bernama on the significant changes in the industry such as the shortened payback period from 7-10 years to 3 years, the increase in the uptake of clean energy and how building energy management will become a significant tool for business owners to lower their OPEX.

The insights from Plus Solar were also featured in Focus Malaysia, Borneo Post (Kuching), Borneo Post (KK) and more.

Find the coverage by Bernama and Bernama BM below:

KUALA LUMPUR, Oct 18 -- Plus Solar Systems Sdn Bhd is optimistic of delivering good results in its financial performance ending March 31, 2021 (FY21) as many are turning to clean energy, especially after realising the saving benefits of solar energy amid the COVID-19 pandemic.

Co-founder and chief executive officer Ko Chuan Zhen said businesses might consider long-term gains of solar power, which is cheaper in the long run versus that of electricity.

"Back then, solar power payback periods were seven to 10 years but now, it can be down to three years, thanks to tax breaks and innovative financing models," he told Bernama in an interview recently.

Plus Solar was established in 2012, starting as a solar consultancy firm.

Ko said he and co-founders, Ryan Oh Zhi Kang and Poh Tyng Huei invested RM100,000 in the company and recorded a revenue of RM130,000 that year.

A year later, the company changed the business model from a consultancy firm to one that provides engineering, procurement, construction and commissioning services.

"The change in business model proved to be a good move and we grew our revenue by 10 times to RM1.46 million (in 2013). We established branches in Penang and Kuala Lumpur.

Plus Solar achieved a significant 134 per cent jump in revenue to RM150 million in the financial year ended March 31, 2020 compared to a revenue of RM64 million in the previous financial year due to considerable demand in Malaysia.

"This is still 100 per cent (contributions) from Malaysia because overseas plans take time to develop, coupled with limitations from the pandemic with travel bans globally," said Ko.

He said so far the company has outfitted numerous buildings with solar energy solutions, with a project track record of over 200 megawatt peak (MWp) -- equivalent to energising more than 94,000 homes a year.

Ko noted that the company is looking at an accumulated solar capacity of 800MWp in the next three years.

"We have plans put in place to achieve these numbers and a large part of it will come from our Large Scale Solar (LSS) and Commercial and Industrial complemented by our Smart Energy solution -- SOURCE," he added.

SOURCE is an intelligent cloud-based and artificial intelligence technology performance management that connects energy and operations data in a single platform.

Ko said SOURCE, which is an energy management platform, is Plus Solar's own proprietary in-house solution, which the company built over a three-year period.

He noted that the pandemic has certainly accelerated the adoption of technology in clean energy, as the company has seen positive uptake of SOURCE amongst many of its commercial and industrial clients.

The company has invested heavily in SOURCE as it feels that digitalisation of clean energy is the next leap within the renewable energy industry, he said, adding that to date, more than 100 buildings have already installed the solution.

"Many of our clients managed to save up to 25 per cent of their energy costs by leveraging this system, and they either save on bottom lines or channel their funds to more urgent areas of their businesses," said Ko.

He added that Plus Solar has secured a number of clients who are taking advantage of the Net Energy Metering quota in the weeks following the recovery movement control order (MCO) to fix their cost savings and hedge against escalating electricity tariffs.

On Plus Solar's expansion plan, Ko said the company has set a clear regional growth agenda as it seeks to expand its presence in Southeast Asia after having established itself in Malaysia.

He added that the company has plans for Vietnam and has put things in motion, while Myanmar and Cambodia also featured in its expansion plan.

Although the expansion plan has been affected by the COVID-19 pandemic, Ko said the company has partners in Vietnam who are making headway in spite of the situation.

"Vietnam is a rapidly growing economy and we want to be right where the action is. It is no doubt one of the hottest renewable energy markets in this part of the world. One year ago, an incentive-driven commission rush of 5GW solar projects has put Vietnam on the stage of the world’s most active market,” he said.

-- BERNAMA

 

BM Version

Plus Solar yakin catat prestasi lebih baik pada tahun kewangan 2021

KUALA LUMPUR, 18 Okt -- Plus Solar Systems Sdn Bhd optimis dapat merekodkan prestasi kewangan yang memberangsangkan bagi tahun kewangan berakhir 31 Mac, 2021 memandangkan banyak pihak beralih kepada tenaga bersih terutama selepas menyedari faedah penjimatan tenaga solar dalam keadaan pandemik COVID-19.

Pengasas Bersama dan Ketua Pegawai Eksekutif, Ko Chuan Zhen berkata perniagaan mungkin mempertimbangkan manfaat tenaga solar jangka panjang yang lebih murah berbanding kos tenaga elektrik.

“Sebelum ini, tempoh pembayaran balik $tenaga solar adalah tujuh hingga 10 tahun tetapi sekarang ia boleh dikurangkan kepada tiga tahun, didorong pelepasan cukai dan model pembiayaan yang inovatif," katanya kepada Bernama dalam temu bual baru-baru ini.

Plus Solar ditubuhkan pada 2012 dengan bermula sebagai firma perunding solar.

Beliau bersama-sama Pengasas Bersama Ryan Oh Zhi Kang dan Poh Tyng Huei melabur RM100,000 dalam syarikat itu dan mencatatkan perolehan sebanyak RM130,000 pada tahun yang sama, katanya.

Ko berkata setahun kemudian, syarikat menukar model perniagaan daripada firma perunding kepada pihak yang menyediakan perkhidmatan kejuruteraan, pemerolehan, pembinaan dan pentauliahan.

Beliau berkata perubahan model perniagaan ini terbukti merupakan langkah yang baik dan mereka meningkatkan perolehan sebanyak 10 kali ganda kepada RM1.46 juta pada 2013 seterusnya membuka cawangan di Pulau Pinang dan Kuala Lumpur.

Plus Solar mencatatkan prestasi mengagumkan apabila perolehan melonjak 134 peratus kepada RM150 juta pada tahun kewangan berakhir 31 Mac, 2020 daripada RM64 juta pada tahun kewangan sebelumnya dipacu permintaan yang tinggi di Malaysia.

"Ini masih 100 peratus (sumbangan) dari Malaysia kerana pelan luar negara memerlukan masa untuk dibangunkan, ditambah dengan kekangan akibat pandemik dengan perjalanan di peringkat global masih disekat,” katanya.

Beliau berkata setakat ini syarikat itu telah melengkapkan banyak bangunan dengan penyelesaian tenaga solar, dan rekod prestasi penjanaan melebihi 200 megawatt puncak (MWp) -- bersamaan dengan memberi tenaga kepada lebih 94,000 rumah setahun.

Ko berkata syarikat itu menyasarkan kapasiti solar terkumpul 800 MWp dalam tiga tahun akan datang.

"Kami melaksanakan rancangan untuk mencapai angka-angka ini dan sebahagian besar akan disumbangkan oleh Solar Skala Besar (LSS) serta komersial dan industri yang dilengkapi dengan penyelesaian Tenaga Pintar kami -- SOURCE,” katanya.

SOURCE merupakan pengurusan prestasi dengan teknologi berasaskan awan dan kecerdasan buatan pintar menghubungkan data operasi dan tenaga dalam platform tunggal.

Beliau berkata SOURCE iaitu platform pengurusan tenaga merupakan penyelesaian dalaman milik Plus Solar sendiri, yang dibangunkan oleh syarikat dalam tempoh tiga tahun.

Pandemik COVID19 mempercepatkan penggunaan teknologi tenaga bersih selepas syarikat mendapati penggunaan SOURCE adalah positif dalam kalangan pelanggan komersial dan industri, katanya.

Syarikat itu telah banyak melabur untuk SOURCE kerana menjangkakan pendigitalan tenaga bersih merupakan lonjakan seterusnya dalam lingkungan industri tenaga boleh diperbaharu, katanya.

Beliau berkata setakat ini, lebih 100 bangunan telah menggunakan penyelesaian yang ditawarkan syarikat Plus Solar.

"Ramai pelanggan kami berjaya menjimatkan hingga 25 peratus daripada kos tenaga mereka dengan memanfaatkan sistem ini. Mereka dapat berjimat atau menyalurkan wang mereka untuk keperluan perniagaan yang lebih mendesak,” katanya.

Ko berkata Plus Solar telah mempunyai sejumlah pelanggan yang memanfaatkan kuota Pemeteran Tenaga Bersih dalam beberapa minggu susulan Perintah Kawalan Pergerakan Pemulihan (PKPP) untuk menambah baik penjimatan kos dan lindung nilai daripada kenaikan tarif elektrik.

Mengenai rancangan pengembangan Plus Solar, beliau berkata syarikat itu telah menetapkan agenda pertumbuhan serantau yang jelas memandangkan mahu memperluas kehadiran di Asia Tenggara selepas di Malaysia.

Syarikat mempunyai perancangan bagi operasi di Vietnam dan mula melaksanakannya manakala Myanmar dan Kemboja juga termasuk dalam pelan pengembangan itu.

Meskipun rancangan pengembangan terjejas akibat COVID-19 namun Ko berkata pihaknya mempunyai rakan kongsi di Vietnam yang terus mencatatkan perkembangan walaupun dalam keadaan pandemik.

"Vietnam merupakan ekonomi yang berkembang pesat dan kami ingin berada di sana tepat dengan usahanya.

“Tidak disangkal lagi negara ini adalah antara pasaran tenaga boleh diperbaharu paling menggalakkan di dunia. Setahun lepas, komisen dipacu insentif yang mendorong projek solar 5GW telah menjadikan Vietnam sebagai pasaran paling aktif di dunia,” katanya.

 

Editor’s Note: With the Net Energy Metering (NEM) quota ending this Dec 2020, business owners are able to enjoy energy credit that offsets on a “one-on-one” basis per KWp unit by investing in solar, as well as tax relief. To learn more about clean energy in Malaysia, visit “Schemes”.

If you are curious to discover more about how AIoT which enables you to reduce your operational expenditure by maximising your energy savings, visit SOURCE’s website.

Media SourceBernama Online and Bernama BM

Online Sources of Related Coverage:

Focus Malaysia

Media Batu

Wn .com

Print Sources of Related Coverage:

Published on the 19th of October 2020   

Borneo Post – Kuching

Borneo Post – KK

Author: Siti Radziah Hamzah

Photo Credit: Plus Solar

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to its truest nature.


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