Opensys (M) Collaborates with Solarvest, Seeks Potential Partners for its BuySolar Platform

Nov 2020

OpenSys, a Malaysia-based leading solutions provider for financial services, telecommunications, and utilities has signed a collaborative agreement with EPCC specialist for solar PV systems, Solarvest, for its dedicated online solar energy platform, buySolar. The platform aims to register 10 service providers, banking, and insurance partners by the end of 2020.

Solarvest will design the system, apply for necessary licenses, procure products, construct, test, and commission the solar panels. Other buySolar partners include GSPARX Sdn Bhd, a registered solar photovoltaic consultant and investor; CIMB Bank Berhad; and CIMB Islamic Bank Berhad. Currently, it has a total of five industry players on the online platform including Verdant Solar Sdn Bhd and Bank Islam Malaysia Bhd, and is in discussions with several EPCC and financing providers.

Since its inception in February 2020, buySolar has gained attention among industry players and is poised to become a major end-to-end marketplace for solar installation services in the country. Its services include online applications, procurement, financing, online monitoring maintenance, and after-sales services. The establishment of the digital platform is in line with the nation’s goal of achieving a 20% renewable energy target by 2025. It is also supported by Sustainable Energy Development Authority Malaysia (SEDA), the federal government regulator tasked to implement the Feed-in Tariff as well as Net Energy Metering programs.

(Sources: New Straits Times, Bursa Malaysia)

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