Pavilion REIT Management Sdn Bhd has signed MoU’s with renewable energy producers namely reNIKOLA Holdings Sdn Bhd, Sun Energy Ventures Sdn Bhd and Syarikat Osmania Logistics Sdn Bhd under consortium 1 to enable Pavilion Kuala Lumpur
mall and Intermark mall to explore the purchase of electricity generated by solar power plants under the Corporate Green Power Programme (“CGPP”) framework.
A second MoU was signed between I2 Solarpark Sdn Bhd and Solarcap Sdn Bhd for Pavilion Bukit Jalil to also benefit from the CGPP.
For Pavilion KL & Intermark Mall the real estate manager is going with reNIKOLA Holdings Sdn Bhd, a leading renewable energy developer and energy solution provider Sun Energy Ventures Sdn Bhd who is in the business of development, ownership, operation and maintenance of solar power plants Syarikat Osmania Logistics Sdn Bhd is principally engaged in telecommunication works, providing full turnkey solutions
As for Pavilion Bukit Jalil, the group picked I2 Solarpark One Sdn Bhd, a solar plant developer operating large-scale solar power plant supplying to Tenaga Nasional Berhad and Solarcap Sdn Bhd, a wholly owned Malaysian SEDA registered solar photovoltaic investor focusing on commercial and industrial propertie
Under the Mou, the parties will look into a scheduled commercial date of Q3 2025 with a contract term of 21 years. Pavilion REIT has also put in the option to exercise its rights once annually to sell all or part of the RECs back to the Consortium if the price is deemed as not favourable to the group.
The planned solar power plant is to be located in Pasir Mas, Mukim Apam, Kelantan.
CGPP is an initiative by the Government to provide opportunities for business entities to participate in the promotion and use of renewable energy in their business operation. It said the programme will support its sustainability agenda to further reduce its carbon footprint.
