EVE Energy has announced that its Malaysian subsidiary, EVE Energy Malaysia, has signed an MoU with Invest Kedah Bhd for the establishment of the ‘EVE Energy Storage Malaysia Company’, which will acquire land and undertake the construction of a plant to meet the country’s growing demand for storage.
The agreement was signed by Dr. Haim Hilman Bin Abdullah of Kedah State ExCo and EVE Energy VP Steven Chen, in the presence of several representatives of both organisations.
Malaysia is ahead of the rest of South East Asia in terms of energy transition, with a target of 2050 to achieve the goal of carbon neutrality, following a national transition roadmap issued by its government in 2023.
As the core investment promotion department of the Kedah State Government, Invest Kedah attracted record-high investment of MYR 68.3 billion in 2021, underlining its influence on the development of the Kedah State Government and commercial entities.