TAIPEI (Taiwan News) – Teco Electric and Machinery Co., Ltd. will invest up to NT$804 million (US$25.61 million) in solar energy and energy storage in Malaysia, reports said Wednesday.
The decision by the board of the Taiwanese machinery and home appliance maker is a reaction to the rapidly growing demand for data centers in Southeast Asia, per CNA. Malaysia’s growing role as a regional hub is fueling the need for green energy, according to Teco.
The decision fits into the company’s long-term development strategy, as it said it is pursuing opportunities in the basic infrastructure for green energy and data centers.
On Feb. 5, Teco said it had won a contract to handle work on the hyperscale data center of a US cloud service provider in Malaysia and Thailand. The project for the power system integration and a fiber optic network carries a price tag of NT$2.5 billion.
