23 Jun, 2023
Yinson and RRJ to collaborate on energy infrastructure and technology projects
Yinson has entered into a collaboration agreement with global investment firm RRJ Capital (“RRJ”) to jointly develop energy infrastructure and technology projects globally, including through the provision of USD300 million in financing. The collaboration agreement was also signed by Farosson, the advisory, investment and asset management arm of the Group.
The signing of the agreements was witnessed by Malaysia Minister of Transport (“MoT”) YB Loke Siew Fook at The St Regis Kuala Lumpur earlier today. Also in attendance were Yang Berhormat Senator Datuk Nur Jazlan bin Tan Sri Mohamed, Dewan Negara Deputy Speaker and Yang Berhormat Tuan Wong Chen, Member of Parliament.
During the event, the guests also participated in an experiential showcase by Yinson GreenTech (“YGT”), featuring solutions for a clean, integrated and technology enhanced ecosystem across the marine, mobility, and infrastructure segments. The showcase included YGT’s electric bikes with swappable batteries, rydeEV, electric vehicle leasing solution, drivEV and EV charging infrastructure, chargEV.
YB Loke said, “From its humble roots in transport and logistics founded in Johor Bahru in 1984, Yinson has grown to become a top global player in offshore energy and is now leading the energy transition in Malaysia through their work in the electrification of the nation’s transportation system. Advancing towards a green transport ecosystem is one of the main thrusts of the National Transport Policy (“NTP”). We believe that participation of stakeholders from both the government and private sector, such as Yinson, is crucial to accelerate the implementation of low carbon mobility initiatives outlined within the NTP.”
Yinson Group Executive Chairman Mr Lim Han Weng said, “We are excited to partner with RRJ Capital in various technology-driven energy infrastructure projects that will help to drive economic development, improve lives and accelerate the region’s transition to a low carbon environment. The diversity of Yinson’s businesses across offshore production, renewables, and green technologies, underpinned by supportive policies by the Malaysian government, provides great opportunities for RRJ and Yinson to create shared stakeholder value together.”
Farosson Chief Executive Officer Mr Daniel Bong commented, “With a shared vision for a sustainable future, our collaboration with RRJ Capital marks a step towards sharing insights and developing the infrastructure and technologies that will drive transformative progress. By forging partnerships like these, we magnify our impact and lay the groundwork for a better tomorrow.”
RRJ Capital Chairman and Chief Executive Officer, Mr Richard Ong remarked, “We are excited to embark on this transformative journey in collaboration with Yinson and Farosson. This long-term strategic partnership represents a significant milestone in our pursuit of shaping the future of energy and infrastructure projects globally. Leveraging our expansive global network and valued partners, we seek to actively support Yinson in its aspirations of advancing innovative solutions and driving the creation of a sustainable tomorrow.”