Solarvest secures five corporate green power agreements in Malaysia

Solarvest has secured five separate corporate green power agreements  under the Corporate Green Power Program (CGPP) in Malaysia. The program represents the Malaysian government’s commitment to advancing energy transition.

The company entered into partnership with a Malaysian multi-asset exchange, two global semiconductor manufacturers and a global data centre service provider, as per the local reports.

According to the company, the agreements will be done through two joint ventures, the first with Savelite Engineering Sdn Bhd and TNB Renewables Sdn Bhd, and another with TNB Renewables Sdn Bhd.

Solarvest and the solar power producers will develop two PV arrays, while the corporate consumers will offtake a combined electricity capacity of 59.98MW for 21 years. The projects are located in Lumut, Perak and Kulim, Kedah.

Solarvest executive director and group chief executive Davis Chong Chun Shiong, was quoted in a statement, “The CGPP marks a significant stride towards a more open and competitive energy market in Malaysia as driven by the principle of demand and supply.”

He further stated, “Leveraging our established track record in developing utility-scale projects, we are confident in fulfilling our role as a solar power producer, providing our corporate consumers with sustainable energy solutions to advance their sustainability goals.”

Meanwhile, Director, group sustainability for Bursa Malaysia, Hezri Adnan was quoted as saying, “Sustainability plays an integral part of Bursa Malaysia’s agenda. We recognise our responsibility to influence capital market participants towards sustainable practices. We strive to lead by example, and will continue to actively mitigate our climate impact through various approaches.”