VCI World Restricted (NASDAQ:VICG) shares jumped after it introduced plans to develop and purchase 100 MW of photo voltaic PV initiatives in Southeast Asia and Europe over 5 years, aiming to generate $200 million in revenue over two decades.
The corporate will supply 70% of the 100 MW from Malaysia, leveraging the Company Renewable Power Provide Scheme (CRESS) to energy its knowledge middle, strengthening power independence and sustainability.
With knowledge facilities anticipated to eat 16% of U.S. electrical energy by 2030, solar energy mixed with battery storage affords a sustainable answer that aligns with world renewable power targets . This initiative reinforces VCI World’s technique to combine clear power into its operations and development plans.
On the identical time, VCI World plans to hunt to accumulate photo voltaic farms in Jap and South-Jap Europe, focusing on 30 MW of photo voltaic capability in these rising markets.
The corporate expects the entire funding required for these photo voltaic initiatives to be $50 million over 5 years, with anticipated annual income of roughly $10 million over the following 20 years .
“In 2025, renewable energies will develop into the principle supply of electrical energy manufacturing. By 2028, renewable power sources will account for greater than 42% of world electrical energy era, with the share of wind and photo voltaic PV anticipated to double to 25%. On the identical time, the explosive development of AI has created unprecedented power demand,” mentioned Dato’ Victor Hoo, Group Govt Chairman and CEO of VCI World.
Lately, VCI World acquired a conditional letter of award value roughly $24 million for its knowledge administration mission. center project in Enstek City, Malaysia.
Worth motion: VCIG shares are buying and selling up 26.7% at $2.04 finally verify Friday.
Picture by way of Shutterstock.
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