Founder Group signs MOU with GCL to cooperate on renewable energy projects

Founder Group (FGL) announced the signing of a memorandum of understanding with GCL Systems Integration Technology. The companies have agreed to cooperate and work together to explore, identify, assess and undertake projects focused on the Renewable Energy industry across Malaysia and other ASEAN countries with an estimated value of up to $220M. Under the agreement, FGL and GCL will employ various methods to achieve their objectives, including exchanging information, proposing and implementing specific actions, and periodically evaluating the effectiveness of their collaboration. Additionally, both companies commit to contributing technical expertise and proficiency to support the collaboration on identified projects. Each entity will take essential steps to carry out proper procedures professionally and diligently to identify and procure the projects. If any projects are secured, a separate definitive agreement will be executed outlining each company’s commitments, including providing necessary assistance, relevant information and documents required by the other party. Upon execution of the MOU, both entities will utilize internal resources to source and secure potential projects, analyze tender documents, prepare business plans, and develop proposals.