BM Greentech Berhad, a subsidiary of QL Resources Berhad, has announced plans to acquire 100% equity in Plus Xnergy Holding Sdn Bhd, a leader in clean energy solutions in Malaysia. The proposed acquisition, valued at RM110 million, aims to bolster BM Greentech’s presence in the clean energy sector and support Malaysia’s transition towards sustainable energy practices.
Founded in 2013, Plus Xnergy specializes in commercial, industrial, residential, and large-scale solar projects, boasting over 400 MWp of installed solar PV capacity and generating 2,000 GWh of clean energy as of March 2024. The company’s focus on energy generation, efficiency, storage, and electric vehicle charging aligns seamlessly with BM Greentech’s existing bioenergy, water treatment, and solar energy solutions.
The acquisition will be settled through the issuance of 81,481,482 new…
