Plus Xnergy rebrands to restructure, optimise business

by TMR / pic credit:

PLUS Xnergy Holding Sdn Bhd (Plus Xnergy) a Malaysian-founded leading clean energy solutionist has rebranded itself as part of its pivot to restructure and optimise its business to reinvent energy.

The efforts resulted in the creation of Plus Xnergy as the main holding company, with Plus Xnergy Services Sdn Bhd, formerly known as Plus Solar Systems Sdn Bhd as its engineering, procurement, construction and commissioning subsidiary and Plus Xnergy Edge Technologies Sdn Bhd as its technology-focused subsidiary.

The move is to create more agility and focus in-house to push boundaries of respective areas, towards the redefinition of energy generation and efficiency.

“It is a rarity for businesses to rebrand during such difficult times, but we see an even more pressing need to transform and re-strategise our solutions. There is much untapped potential in Malaysia and the region, with the Asia Pacific renewable energy potential worth RM15.3 trillion,” Plus Xnergy group CEO Ko Chuan Zhen (picture) said.

“With the rebrand, we bring new and innovative offerings. We have always been a strong contender in the business-to-business market, but it is an apt time to enter the business-to-consumer (B2C) market as we see strong demand from this segment. There is much room for adoption potential as there are over 3.2 million residential properties in Malaysia.”

Despite the pandemic, the firm is optimistic on the market growth and confident in projecting a revenue growth of RM500 million in three years. Backed by interest and demand from other regions, the firm also foresees expansions to two new countries.

The company said it plans to secure up to 100MW in large scale solar projects as well as to diversify into energy storage systems, electric vehicle chargers and floating solar.

In its first year, Plus Xnergy projects to outfit 2,000 houses with solar power, and up to 5,000 by its second year.

This is aligned with the Net Energy Metering 3.0 rakyat programme, introduced early this year, to encourage the growth and adoption of solar solutions for consumers and households.

The B2C efforts will also create more than 500 microentrepreneurs in the process.

“Our goal is to hasten the adoption of solar solutions with a first in the market; a solar rent-to-own program. It would grant long term savings to the Malaysian household without incurring unrealistic monthly costs, while accelerating the country’s progress towards its renewable energy goals,” added Ko.