Blueleaf Energy, pan-Asian renewable energy development platform, has completed the construction and reached energisation of their first corporate power purchase agreement (PPA) rooftop solar power plant in Penang, Malaysia.
The company solar plant’s purpose is to supply Robert Bosch (M) Sdn. Bhd.’s automotive electronics plant which is also in Penang, Malaysia.
Bosch aims to apply a zero-investment operating expense (OPEX) approach under a turnkey power supply agreement with an investor such as Blueleaf Energy.
The 3MW plant is provided on a self-consumption basis to create energy with the chance for Bosch to sell excess generated energy under Malaysia’s Net Energy Metering (NEM) scheme.
Bosch, committing to clean renewable energy, resoluted a rooftop area of 24,500 m2 for the installation of 7,500 solar panels.
The company is also considering whether it will roll out this approach to other plants like Penang PgP2, but the decision whether to apply this operating expense OPEX model or use a capital expense (CAPEX) model depends on local incentives, regulations, and nature of the power supply market.
“The company is pleased to collaborate with Bosch in supporting its long-term commitment in reducing carbon footprint. Blueleaf Energy is excited to contribute to Malaysia’s green energy transition and play a role as a corporate interest in renewable energy,” said Sol Proops, Interim Chief Executive Officer (CEO) of Blueleaf Energy.
Commenting on the Budget 2021 RM2 billion allocation for renewable energy initiatives, the company will be closely watching the Malaysian utility scale solar market and look forward to budget and policy settings that will facilitate more foreign direct investment.