KUALA LUMPUR, Nov 5, 2015:
Amiran Technology Sdn Bhd, an incubatee at Technology Park Malaysia, is expected to generate a revenue of RM1.2 billion in 10 years from a buy-back contract with Japan’s KIS Co Ltd.
Managing director Ali Sadiqin Mohamed Noor said the company today inked a 10-year technology agreement with KIS for the fabrication, production and integration of its “SynFuel Energy Hybrid Gas Generator’ with KIS to create a hybrid solar farm.
“Further to the partnership, KIS will provide a buy-back contract for Amiran to assemble solar PV and cogeneration solar panels for them over the 10-year period.
“An agreement on this is expected to be signed sometime in the first quarter of next year,” he said after the signing of the technology agreement witnessed by Deputy Minister of Science, Technology and Innovation Datuk Dr Abu Bakar Mohamad Diah.
Ali Sadiqin said the company, which has a long relationship with KIS going back nearly 10 years, plans to open a RM100 million manufacturing facility to assemble KIS’ solar panels and a hybrid solar farm for local use next year once the buy-back contract is sealed.
He said the company would also benefit from the technology transfer from a company that is one of Japan’s top three players for photovoltaic modules and cogeneration solar panels and commands almost 50% market share in that country.
However, Ali said, financing for renewable energy companies in Malaysia is still a big hurdle, adding that Amiran still faces financing problems despite getting a credit guarantee under the Green Technology Financing Fund.