Malaysia’s Solarvest and PGB end deal following strategic project shift

Solarvest Holdings Berhad and Paragon Globe Berhad (PGB) have mutually agreed to terminate their Memorandum of Understanding (MOU), originally signed in February 2024. This decision follows PGB’s strategic restructuring of the Desa Cemerlang project, including the sale of 67.62 acres of land to Bridge Data Centres Malaysia.

The MOU, which focused on developing a green industrial township within DESA 100, is no longer relevant after the land sale. PGB Executive Chairman Dato’ Sri Edwin Tan Pei Seng stated that while the MOU is ending, the company remains committed to sustainable development and ESG goals, and looks forward to exploring future collaboration opportunities with Solarvest. PGB reaffirmed its vision for Desa Cemerlang as a dynamic industrial hub and thanked Solarvest for its understanding.

Solarvest specializes in clean energy solutions, including B2B EV mobility, renewable energy certificates, and solar PV system installations for residential, commercial, industrial, and government sectors. It also distributes and installs solar and energy-efficient products across Asia-Pacific.