NEFIN to develop 45 MWp solar farm project as part of Malaysia's corporate green power programme

NEFIN, a prominent independent power producer specializing in green energy across the Asia Pacific, has been selected as one of the Solar Power Producers for the Corporate Green Power Programme (CGPP) by the Energy Commission (Suruhanjaya Tenaga). As part of this initiative, NEFIN will undertake a groundbreaking 45MWp solar farm project in Teluk Intan, Perak, estimated to cost around RM130 million.

The solar power plant, boasting a capacity of 29.99 MW AC, is set to commence construction in 2024, aiming to generate 60,750MWh of clean energy annually while potentially offsetting 47,385 tons of CO2 emissions. This landmark development has attracted the attention of two Fortune 500 companies, a high-tech firm, and a global snacking corporation, both eager to engage in contract negotiations with NEFIN to integrate green energy practices into their operations.

Operating as a virtual power purchase programme (VPPA), the CGPP enables corporations to acquire and use renewable energy through a Renewable Energy Certificate (REC) to fulfil their decarbonization goals. The project, scheduled to begin commercial operations in 2025 through the NEDA program, signifies NEFIN’s maiden solar farm project in Malaysia, marking a significant stride in the company’s commitment to sustainable energy solutions.

Chong Bor Hung, Managing Director of NEFIN SEA and Head of Business Development of NEFIN Group expressed pride in leading initiatives supporting industries in their decarbonization and sustainability objectives. As a market leader in carbon-neutral solutions, NEFIN aims to guide corporations toward a carbon-neutral future by facilitating the achievement of renewable energy targets. The project presents an opportunity to encourage more corporations, unable to install their renewable energy systems, to join in fostering a cleaner and more sustainable future.