Integrated papermaking specialist, XSD International Paper Sdn Bhd (XSD) has entered into a power purchase agreement (PPA) with NEFIN Group (NEFIN).
The PPA was signed by XSD President, Joyce Shi ChenYe, Special Executive to NEFIN’s Chairman, Chong Kok Ming, and was witnessed by Group Chief Executive Officer of Solarvest Holdings Berhad, Davis Chong Chun Shiong.
XSD will install a 9.2-megawatt (MWp) solar photovoltaic (PV) system on its planned facilities in Kulim Industrial Park located at Padang Meha, Kedah.
The project will see NEFIN building a solar PV system that consists of approximately 21,000 solar PV panels. The system will collectively generate over 13.5 million kWh clean energy and off-setting approximately 9369 tons of carbon emissions annually. The construction of the project is expected to be completed by Q3 2021.
“This is just the beginning of our green initiatives in Malaysia and we have earmarked a RM35 million investment target for a combination of green initiatives which include water and air systems as well as this solar PV system project.
“We intend to build a green paper industry park here and we are currently in talks with several industry leaders to roll out the plans, such as NEFIN and Solarvest for the provision of Engineering, Procurement, Construction and Commissioning (EPCC) for our solar projects,” said Joyce Shi.
Notably, XSD made its foray to Malaysia in 2018 with a RM1.2 billion investment plan to develop a green paper industry park in Kulim, Kedah as part of its relocation plans into the Southeast Asia market. The development will help spur the local economic growth in the area and create approximately 1,300 job opportunities for the locals in a single phase.
“With the in-depth industry knowledge and extensive experience of the NEFIN team, our contributions at the early design stage can effectively help maximize clean energy generation, cost-saving, and ensure seamless integration of the solar PV systems with the buildings.
We are very proud to be working with XSD on this project and look forward to more opportunities to contribute to a greener future for all,” said Glenn Lim, Chief Executive Officer of NEFIN.