Itramas targets 60% revenue from solar segment

by BERNAMA / pic by TMR FILE

ITRAMAS Corp Sdn Bhd remains optimistic of its business prospects and targets a higher revenue of RM300 million this year from RM250 million previously, for its multiple segments, mainly green technology.

Group MD and CEO Lee Choo Boo (picture) said the target is driven by a few ongoing and upcoming projects secured locally and internationally in the UK, Vietnam, South America, Africa and the Middle East.

“With three solar photovoltaic power plants in Melaka, Terengganu and Kedah now operational concurrently with a higher than expected output of between 6% and 8%, we expect the solar segment to contribute around 60% of revenue this year, while the remaining to be under the smart cities,” he told Bernama recently.

Itramas, which was established in 1999, is a green and sustainable infrastructure development company in Malaysia. Based in Kuala Lumpur, it has expanded into multiple sectors which include large-scale renewable energy, energy efficiency, smart city and electronic manufacturing services.

Throughout the years, the company has successfully deployed close to RM2 billion worth of green and sustainable projects, and currently is the largest solar energy producer in Malaysia with 200MWp in operation.

In regard to demand for solar energy, Lee said there is a growing trend in the commercial and industrial sectors, but lower interest in the residential area.

“Solar is gaining attention in the country right now. From the business part, we can see more than 100 companies bidding for the largescale solar 4 tender, which is very competitive.

“As an industry player, we are now looking at promoting and going into the residential area for solar energy.

“We believe that in the next couple of years, that (residential area) will be a major segment as people become more aware about going green; it can save money, and the storage technology improves,” he said.

Going forward, Lee said the solar sector will definitely be a main sector, especially in the current period where not many infrastructure projects are going on due to the pandemic, while solar seems to be abundant.

On energy efficiency services which include research and development (R&D) of LED products, high-value-added manufacturing, energy performance contracting, and operations and maintenance for public lighting, he said these are all highly customisable to suit the needs of every client.

“We are also actively rolling out smartphones and smart lighting which eventually are part of 5G infrastructure, connected lighting and solar power street lighting.

“So, this would allow us to basically bring green energy and roll out energy-efficient street lights to rural areas where you do not need electricity cable infrastructure as it is self-sustaining,” he added.

Recipient of the Global Good Governance Awards — 3G Green Innovation and Solutions Award 2020, Itramas has a dedicated R&D centre in Penang, focusing on product R&D, project finance and investment, product manufacturing, project development, design and installation, and operation and maintenance.

“These are among our solutions to support the use of sustainable and renewable energy. Towards that objective, we will continue to support the growth of green technology as a new development model to enhance the sustainability of our clients, as well as the country,” Lee said.

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