Malakoff a name familiar in power generation and an Independent Power Producer has been actively venturing into renewable energy as it seeks to diversify from its current model. The latest development signifies the direction the IPP is gearing towards when it announced that it will be appointing Solarvest Holdings to supply and install rooftop solar panels for its clients.
The project will involve Solarvest installing solar photovoltaic panels on roofs a Northport, Johorport and Pos Malaysia, allowing these companies to balance their energy consumption reduce their impact on the environment. Using solar power to offset carbon footprint is gaining momentum in Malaysia, as the adoption is rather affordable for large corporations and the fact that the country gets sunlight 365 days of the year.
Malakoff and Solarvest will be working towards establishing the panel at these logistic facilities with advanced solar PV systems, transforming the respective rooftops into solar powerhouses. The solar facilities installed will be under a Solar Power Purchase Agreement (SPPA) ranging between 20 and 25 years. Upon completion, the total generation from these three (3) facilities are expected to produce approximately 11,609.90 MWh of clean electricity per annum. These will collectively neutralise about 8,057 tonnes of carbon emissions per year for the logistics industry.
Solarvest will be undertaking the Engineering, Procurement, Construction and Commissioning (EPCC) works while Malakoff finances and owns the rooftop solar assets throughout the duration of the SPPAs.
Managing Director and Chief Executive Officer of Malakoff Corporation Berhad, Encik Anwar Syahrin Abdul Ajib said, “The fixed electricity tariff through SPPA will protect businesses from any potential price hikes and result in cost savings. This allows business owners to allocate more financial resources to fuel its future expansion.”
A significant achievement for Solarvest which only began operations in 2012, Group Chief Executive Officer Mr. Davis Chong Chun Shiong was delighted to be appointed by Malakoff as the solution provider for the projects.
According to Davis, there has been significant growth in demand for clean energy from the private sector, especially those that require high-level energy usage. This is evidenced in the rapid uptake for the quota allocated through the recent Net Energy Metering (NEM) programmes by commercial and industrial consumers.
In Malaysia, Malakoff a member of MMC Group, is the largest Independent Power Producer (IPP) with an effective generating capacity of 5,836 MW