- symptoms five CGPAs to promote asset ownership and sustainability for businesses
- secures a 21-year, recurring monthly income from thermal plant installation.
In accordance with the Corporate Green Power Programme ( CGPP ), Solarvest Holdings Bhd has signed five separate Corporate Green Power Agreements ( CGPAs ) with a Malaysian multi-asset exchange, two world-leading semiconductor manufacturers, and a leading global data center service provider ( collectively referred to as Corporate Consumers ). These contracts are reached through a joint venture between TNB Renewables Sdn Bhd and Savelite Engineering Sdn Bhd, and another joint venture between TNB Renewables Sdn Bhd alone.
Under these CGPAs, Solarvest and partners, as the Solar Power Producers ( SPP ), will undertake the ownership and development of two solar power plants located in Lumut, Perak and Kulim, Kedah. The Corporate Consumers will collectively take over the solar power plant’s combined electricity capacity of 59.98 megawatts ( MWac ) for 21 years through contractual differences mechanisms and agreed pricing.
]MWac , refers to the capacity a plant can deliver to the grid after accounting for energy losses during the DC-AC conversion. ]
The CGPP represents the Indonesian government’s dedication to advancing the nation’s electricity move. The CGPA model eliminates the need to install solar photovoltaic assets on corporate premises, thereby allowing businesses to purchase online renewable energy. Corporate customers can support their sustainability goals and commitments by participating in the CGPP by purchasing bundled Renewable Energy Certificates ( RECs ) that verify the source of electricity from renewable energy sources.
According to Davis Chong Chun Shiong, senior director and group leader of Solarvest,” The CGPP is a major step forward in Malaysia’s transition to a more open and dynamic energy market as a result of the theory of demand and supply.” We are confident in fulfilling our role as a renewable energy producer by providing our corporate clients with sustainable energy options to improve their sustainability goals using our proven track record in developing utility-scale jobs.
The two solar power plants ‘ written CGPAs, each with a 21-year term, did increase Solarvest’s recurring income flow. To sum up, the Energy Commission of Malaysia has granted Solarvest and its consortiums a full import power of 90 MWac in accordance with the CGPP.
Corporate Vice President, Assembly &, Test NAND Operations, Micron Technology, Amarjit Sandhu said,” As memory and storage continue to fuel future systems, our involvement in the CGPP reinforces our commitment to building a brighter and more responsible potential, while driving development in the semiconductor sector. According to the National Energy Policy 2022-2040 and the National Energy Transition Roadmap, Micron continues to be a dependable commercial customer in Malaysia.
Director, Group Sustainability for Bursa Malaysia, Dr Hezri Adnan said,” Conservation plays an integral part of Bursa Malaysia’s mission. We are accountable for influencing investors ‘ attitudes toward sustainable practices. We will continue to deliberately reduce our climate impact through a variety of strategies and continue to do so.