VCI Global targets developing 100 MW of solar projects in Southeast Asia and Europe, aiming for $200 million revenue over 20 years.
Quiver AI Summary
VCI Global Limited has announced plans to develop and acquire up to 100 megawatts of solar photovoltaic projects across Southeast Asia and Europe within the next five years, aiming for approximately $200 million in revenue over two decades. The company intends to source at least 70% of this capacity from Malaysia, utilizing government programs like the Corporate Renewable Energy Supply Scheme to enhance sustainability and energy independence for its data center. Additionally, VCI Global will target the acquisition of 30 MW of solar capacity in Eastern and Southeastern Europe, aligning with the growing demand for clean energy amid the rising power needs of AI technologies. The overall investment for these initiatives is estimated at $50 million, with projected annual revenues of about $10 million over the next 20 years. This strategy signifies VCI Global's commitment to renewable energy and long-term shareholder value.
Potential Positives
- VCI Global Limited targets the development and acquisition of up to 100 megawatts of solar PV projects, highlighting its commitment to sustainability and growth in renewable energy.
- The expansion is projected to generate approximately US$200 million in revenue over the next 20 years, significantly contributing to the company's long-term growth.
- By sourcing at least 70% of the solar capacity from Malaysia, VCI Global will leverage key government programs, enhancing its competitive position in the renewable energy market.
- The company plans to supply renewable energy directly to its data center, advancing its energy independence and sustainability goals while aligning with the rising demand for clean energy.
Potential Negatives
- The ambitious target to develop and acquire 100 MW of solar PV projects may raise concerns regarding the company’s capacity to effectively manage and execute such a large-scale initiative within the proposed timeframe.
- The reliance on government programs like CRESS for sourcing 70% of project capacity in Malaysia could lead to vulnerabilities if these programs face regulatory changes or funding challenges.
- The extensive forward-looking statements highlight significant uncertainty regarding the company's ability to achieve its projected revenues and growth, suggesting potential risks that could deter investor confidence.
FAQ
What is VCI Global's solar project target?
VCI Global aims to develop and acquire up to 100 megawatts of solar projects in Southeast Asia and Europe over five years.
How will VCI Global source its solar projects?
The company plans to source at least 70% of its solar projects from Malaysia, utilizing the Corporate Renewable Energy Supply Scheme (CRESS).
What is the expected revenue from VCI Global's solar initiatives?
VCI Global expects to generate approximately US$200 million in revenue from its solar projects over the next 20 years.
How does solar energy impact data centers?
Solar power, combined with battery storage, can significantly reduce reliance on grid electricity and fossil fuels for data centers.
What is VCI Global's investment plan for solar projects?
The total investment for VCI Global's solar initiatives is projected at US$50 million over five years, aiming for stable returns.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VCIG Hedge Fund Activity
We have seen 3 institutional investors add shares of $VCIG stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VIRTU FINANCIAL LLC removed 36,128 shares (-100.0%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC removed 22,854 shares (-96.2%) from their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 16,225 shares (-97.6%) from their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC added 13,256 shares (+inf%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 12,586 shares (-100.0%) from their portfolio in Q2 2024
- BANK OF AMERICA CORP /DE/ removed 9,614 shares (-100.0%) from their portfolio in Q2 2024
- HRT FINANCIAL LP added 1,836 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
KUALA LUMPUR, Malaysia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), is setting a target to develop and acquire up to 100 megawatts (MW) of solar photovoltaic (PV) projects across Southeast Asia (SEA) and Europe within the next five years. This expansion is expected to generate approximately US$200 million in revenue over the next 20 years and significantly contribute to VCI Global’s long-term growth.
As part of this initiative, VCI Global plans to source at least 70% of the 100 MW from projects in Malaysia, leveraging key government programs such as the Corporate Renewable Energy Supply Scheme (CRESS). CRESS allows businesses to directly purchase green electricity from renewable energy developers. Through this initiative, VCI Global will supply renewable energy directly to its data center, further enhancing its energy independence while advancing its sustainability goals.
According to Solar Insure, by 2030, data centers are projected to account for 16% of the total U.S. power consumption, a significant rise from just 2.5% a decade ago. This trend highlights solar power as a leading alternative. Combined with advanced battery storage, solar power can provide nearly continuous energy to AI data centers, reducing dependence on grid electricity and fossil fuels. These initiatives will not only contribute to national renewable energy targets but also align with VCI Global’s long-term growth and strategic vision.
In parallel, VCI Global will seek to acquire solar farms in Eastern and Southeastern Europe, targeting 30 MW of solar capacity in these expanding markets. This international expansion supports the Company’s strategy to capitalize on the increasing global demand for clean energy while strengthening its renewable energy portfolio.
The total investment required for these solar initiatives is projected to be US$50 million over five years, with an expected annual revenue of approximately US$10 million over the next 20 years. This sustainable growth strategy will provide long-term, stable returns, reinforcing VCI Global’s commitment to clean energy and delivering value to shareholders.
“In 2025, renewables will become the largest source of electricity generation. By 2028, renewable energy sources will account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%. At the same time, the explosive growth of AI has created an unprecedented demand for power. We view solar energy as one of the most promising renewable energy sources and wish to fully capitalize on this opportunity to meet the growing clean energy demand of AI and the world,” said Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.
For more information on the Company, please log on to
https://v-capital.co/
.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
CONTACT INFORMATION:
For media queries, please contact:
Landon Capital
info@landoncapital.net
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