Kuala lumpur: Helios Photovoltaic Sdn Bhd, on its path to listing on the Frankfurt Stock Exchange in Germany, is aiming to raise 33 million euros (1 euro = RM4.64) through its initial public offering (IPO). Helios Photovoltaic specializes in renewable energy and infrastructure, focusing on developing clean energy platforms and investment solutions across Asia and Europe.

According to BERNAMA News Agency, Helios Photovoltaic's chairman, Datuk Seri Ibrahim Muhammad, announced that the company is expected to be listed in May. He highlighted the appointment of SMC Investment Bank AG as the listing bank to support the structuring and execution of the IPO. The funds raised will facilitate the development and expansion of solar projects in Europe and Asia, including in Germany, Malaysia, Singapore, and Cambodia.

Datuk Dr Zuraidi Ishak, the chief operating officer, mentioned that Helios Photovoltaic has completed three major projects for the government in Sarawak, including a hybrid solar plant in a remote area. The company is also in discussions with Cambodian authorities about solar industrial parks and is engaging with the Kota Kinabalu International Industrial Park in Sabah for a solar park and green industrial park development.

The company has unveiled a solar park, wildlife safari conservation, and resort project planned for Kelantan, with an estimated development value of RM5.5 billion. Ibrahim stated that the project will feature a 1,000 megawatt peak (MWp) solar photovoltaic capacity and a 1,600 megawatt hour (MWh) battery energy storage system, aiming for commercial operation by 2028 or 2029. This project is part of Malaysia's Corporate Renewable Energy Supply Scheme, allowing companies to participate in renewable energy through structured arrangements.

Helios Photovoltaic is engaging with potential investors from international companies, primarily from China and Europe, to secure funding for the project. Zuraidi expressed hope that they would finalize potential investors by mid-year.