UVCell Solar Corp and Global Crypto Trading Hub Co Ltd (GCTH) on Tuesday signed a memorandum of understanding (MoU) for a solar power development agreement, which will include a dedicated underwater sea cable linking Cambodia to Singapore via peninsular Malaysia.

The government will support more such green energy initiatives from independent power producers (IPPs) in Cambodia, said Seang Bunleang, Secretary of State for the Ministry of Interior. Ean Lee Lyse, chairperson and founder of GCTH, signed the MoU with UVCell Solar Chief Revenue Officer Jack Chew Keng Yaw. Also present was Nasir Rahman of Comtrac PMC Sdn Bhd as the advisory team for the deal.

The MoU would look at the development of solar farms, energy storage solutions and cross-border collaboration for energy sales in Asia. With this initiative, the companies said they hope to have a robust blueprint for “green energy infrastructure transmission.”

The companies, in the press conference on Tuesday, said that the deal would ensure that they were a “major green energy player” in ASEAN and that the project would meet international requirements for harvesting green energy.

In a statement, UVCell Solar said that the MoU would look at involving the government of Cambodia at every stage. “From development approval to planning and operations, the companies will closely work with the Royal Government of Cambodia for this project. From the infrastructure to facilities, we will be following the outlines in the MoU signed today,” said the company.

The MoU is also in line with the Cambodian government to achieve carbon neutrality by 2050. The project will help boost renewable energy and grid reinforcement in Cambodia for energy exports to Singapore by 2028. The Indonesian government’s efforts to improve power transmission were also mentioned. In the years to come, Malaysia will be a major access link to facilitate cross-border power supply networking. Energy transmission and sale can smoothly happen via Sumatra – Malacca / Malaysia – into Singapore with the new linkage to Cambodia.

Ean Lee Lyse, chairperson, GCTH said, “This signing will help speed up the process of developing green energy in Cambodia. Given UVCell Solar’s extensive experience with the consortium and its relationship with NE SOLAR. The company has global experience in managing and advising on green energy, infrastructure and other facility development projects in the USA, Canada and Asia.”

GCTH also said that it expects to receive support from its existing “Tier 1 Bank.” “The program can be supported by Export Development Canada, a Crown corporation wholly owned by the Government of Canada,” said Ean Lee Lyse, chairperson, GCTH.