Founder Group (FGL, Financial) has entered into a memorandum of understanding with GCL Systems Integration Technology, aiming to explore opportunities in the renewable energy sector across Malaysia and other ASEAN nations. This collaboration targets projects with a potential valuation of up to $220 million.
The agreement outlines a framework for FGL and GCL to exchange information, propose and implement specific actions, and continuously evaluate the success of their partnership. Both companies will utilize their technical knowledge and expertise to support the joint initiatives.
Each organization has committed to diligently following necessary procedures to identify and secure potential projects. Should any projects be successfully procured, the companies will enter into a definitive agreement detailing their responsibilities, including the provision of vital assistance, information, and documentation to each other.
Following the MOU, both FGL and GCL will leverage their internal resources to identify opportunities, analyze tender documents, prepare business plans, and formulate proposals for potential ventures in the renewable energy industry.
