Paragon Globe Bhd has signed a memorandum of understanding (MoU) with Solarvest Holdings Bhd to jointly develop a solar factory and green industrial township in Johor Bahru, Malaysia.
The project is expected to yield 12.5 MWp renewable energy (RE) capacity. The project will be financed by Solarvest, under the Powervest financing programme. The state is expected to reach RM260 billion in gross domestic product (GDP) by 2030 through this project.