Speeding up Advances into Green Market in Southeast Asia
SK Group is partnering with Gentari Sdn Bhd (Gentari), a clean energy solutions entity founded by Malaysian energy company PETRONAS, for clean energy business opportunities.
The group is stepping up its efforts to make inroads into the green industries in Southeast Asia, following its recent equity investments into green companies in countries including Vietnam and Singapore.
The group announced on Sept. 5 that three of its companies, SK Materials Inc., SK ecoplant and SK Signet, have signed a memorandum of understanding (MOU) with Gentari for a comprehensive cooperation in the clean energy sector.
SK and Gentari agreed to use the MOU as a stepping stone to identify joint project opportunities in the areas of hydrogen, fuel cells and electric vehicle (EV) charging, and further strengthen cooperation on multiple fronts.
The MOU is in line with Gentari’s business focus on cleaner energy solutions and efforts to capture opportunities in the energy transition. Gentari’s three initial core offerings provide customers with lower carbon solutions through renewables, hydrogen and green mobility.
SK is hoping to create major synergy effects through the partnership with Gentari by leveraging its technology and capabilities in areas such as hydrogen and the EV ecosystem.
Meanwhile, under the umbrella of Malaysian energy company PETRONAS, Gentari will be able to utilize production and distribution infrastructure as a solid basis to set up business models in areas such as the production and distribution of hydrogen, as well as development of EV charging and battery solutions in Malaysia.
An official from the SK Group said, ”This MOU signals that SK is going beyond just making investments, and expanding its presence in green business opportunities in the Southeast Asian market, which is a key region for strategic global partnership.”
Lee Yong-wook, president of SK materials Inc. said, “Cooperation in clean green business opportunities by SK and Gentari is indeed a significant step forward by both companies to jointly respond to the climate crisis confronting the global community. We will work together to strike the right balance for the technologies and capabilities of our companies, and cooperate closely to secure green technology for the future.”
Representing Gentari, M Shahrizal B Yang Razalli, head of Clean Energy Solutions Transition, PETRONAS, added, “In line with our purpose to ‘solve the world’s most pressing sustainable energy needs, to change how we live today and help to secure our future’, Gentari is committed to helping our global customers make the important journey towards net zero. To do this, we believe that partnerships are necessary as we discover and develop clean energy solutions that can enable pragmatic action today. Collaborating and innovating with partners such as SK Group helps Gentari explore emerging energy technologies, grow faster to meet existing demands, and unlock greater value.”