Kuala Lumpur, April 7 2020 - Plus Solar, the nation’s foremost renewable energy solution provider achieved its RM150 million revenue mark for its financial year ending March 2020. This was over 200% jump in revenue compared to its FYE 2019 which recorded RM64 million.
The company has experienced a phenomenal year on year growth fuelled by strong market demand from the manufacturing, commercial and industrial sector, which makes up nearly half of Plus Solar’s business.
“An increase in awareness notably from manufacturers saw many adopting solar energy as they realised cost savings that would ultimately translate to better cash flow.
“We have also worked closely with financial institutions to offer attractive repayment schemes so it makes good business and financial sense for corporations to adopt clean energy,” said Ko Chuan Zhen, Chief Executive Officer and Co Founder of Plus Solar.
Instrumental to the revenue jump is the execution of a large scale solar (LSS) project which contributed 50% of its revenue growth.
In its role as an engineering, procurement, construction and commissioning (EPCC) service provider, the LSS projects completed by Plus Solar are able to power up 3,570,742 homes per year for over a period of 21 years, while reducing the level of CO2 emissions to 37,171.58 tC02e per year.
When asked to comment about the current market condition, Ko said “Globally, we may be on the brink of recession with the ongoing Covid-19 pandemic which has affected businesses across all industries.”
“As businesses struggle to keep afloat - the main concern will be on sustaining their top line; revenue and sales. While they may not be able to control the volatility within their respective industries, they must look at cutting the bottom line - expenses.
“This is something that businesses should begin to rethink. Electricity remains a top three expense for many businesses. Here, solar energy has proven to be a real contributor to cost efficient savings where investments can be recouped in 3-4 years whilst shaving off up to 50% of operational costs.
“We are ready to assist the manufacturing, commercial and industrial sector as well as business owners who are keen to maximise bottom line savings. We are able to pinpoint leakages in terms of where energy could be better channeled and how cost savings can be really met.
“Many business owners cannot grasp the ROI on solar solutions, and this is where we are happy to speak to them to educate and share both the technicalities of solar for their business and its returns, as well as affordable financial packages - so they too can gain access to reducing their bottom line.
“There is no better time than now to rethink efficiency of processes and effectiveness of cost controls as the pain is real,” added Ko.
About Plus Solar Systems Sdn Bhd
Plus Solar Systems Sdn Bhd is the nation’s leading total clean energy solutions company with a track record of over 181MWp. Driven by the vision of transforming the electricity consumption pattern of people through the Energy Trilogy, which consists of Energy Generation, Energy Efficiency and Energy Storage, Plus Solar Systems was established in 2013 to provide turnkey solutions-engineering, procurement, construction and commissioning (EPCC) services to fulfil the current needs of the market. In 2015, it subsequently developed a solar farm as an investor. As a total clean energy solutions provider, it provides integrated solutions with state-of-the-art technology systems and cost-effective financing options to fulfil society’s every need of clean energy. Today, Plus Solar has offices in Kuala Lumpur, Penang, Johor and Perak.Plus Solar has repeatedly received recognition as a reputable award-winning brand, clinching these coveted titles: EY Entrepreneur Of The Year – Emerging Entrepreneur 2019, MOSHPA 2018 14th OSH Excellence National Award, for Solar PV Engineering, the AmBank BizRACE – First Runner-Up 2018, The Star Outstanding Business Award (SOBA) – Most Promising Business Award 2017, Sin Chew Business Excellence Award (SCBEA) – Product and Services Business Award 2016 and the Nanyang Golden Eagle Award (GEA) – Excellent Eagle Award 2015 & 2016, amongst others. www.plus-solar.com.my