Meta Bright Group Bhd is making significant strides in the renewable energy sector with a strategic joint venture aimed at delivering comprehensive energy solutions. This expansion marks a pivotal move for the Main Market-listed conglomerate, which boasts a diversified portfolio spanning property development, hospitality, investment property, renewable energy, leasing and financing, and the concrete business sectors.
In a recent announcement, Meta Bright Group revealed its partnership with United Success Holding Pte Ltd and Yang Lei to establish Meta Bright Solutions Sdn Bhd. The newly formed entity will focus on the development and operation of Battery Energy Storage Systems (BESS), electric vehicle (EV) charging infrastructure, and energy efficiency (EE) solutions within Malaysia and potentially across the broader Southeast Asian region.
Under the terms of the joint venture, Meta Bright Energy Sdn Bhd, a wholly-owned subsidiary of Meta Bright Group, will assume a controlling 55% stake. United Success and Yang Lei will hold 10% and 35% ownership, respectively.
This strategic initiative is closely aligned with Malaysia’s National Energy Transition Roadmap (NETR), which aims to bolster the renewable energy sector’s contribution to the national GDP to RM220 billion by 2050 while achieving a 32% reduction in carbon emissions within the energy sector.
“With the government allocating RM300 million under Budget 2025 to accelerate grid modernization, energy efficiency initiatives, and renewable energy adoption, Meta Bright is well-positioned to capitalize on the surging demand for BESS, EV charging infrastructure, and EE solutions,” the company stated.
Further fortifying its technological edge, the joint venture has secured an exclusive technical support agreement with YTKJ. Notably, YTKJ is backed by Ningbo Urban Construction Investment Holding Co Ltd, a state-backed urban infrastructure developer in China, ensuring a robust technological and financial foundation for the initiative.
Additionally, YTKJ has collaborated with Ningbo Joyson Electronic Co Ltd to manufacture and produce BESS, reinforcing the joint venture’s commitment to deploying cutting-edge energy solutions.
As Meta Bright Group expands its footprint in the renewable energy sector, this strategic alliance underscores its commitment to driving sustainable innovation and advancing Malaysia’s clean energy ambitions. The joint venture not only positions the company at the forefront of the industry but also strengthens its capacity to navigate and contribute to the evolving energy landscape of Southeast Asia.