Solarvest Holdings Berhad has Raised $25.87 million EPCC contract from P Solar Sdn Bhd to build a solar farm.
A 45 MWp solar farm in Mukim Pekan, Pahang, would be made easier by this agreement, which is a component of the Corporate Green Power Program (CGPP), according to a statement released by Solarvest.
When the solar farm is finished, it should produce about 57,500 MWh of renewable energy yearly, which is the same as compensating for about 36,800 tons of carbon dioxide (CO2) emissions.
The solar farm project is expected to add over 60,000 Renewable Energy Certificates (RECs) to the market when it is completed by the end of 2025.
Corporate customers will be able to lower their carbon footprints and achieve sustainability goals with the aid of these RECs.
Scattered on 88 acres of reclaimed ground close to the ocean, the solar farm is equipped with premium panels and inverters and is built with monsoon-resistant characteristics.
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Both businesses are actively investigating the use of battery energy storage systems in the next phase to improve the efficiency of the solar farm and guarantee a steady flow of renewable energy.
“The development of this CGPP solar farm aligns perfectly with our goal of contributing to Malaysia’s National Energy Transition Roadmap (NETR),” said Ahmad Puzi Bin ABD Wahab, Director of P Solar Sdn Bhd. Through the issuance of RECs, companies can substantiate their use of renewable energy and demonstrate compliance with international sustainability standards,” he added.
He claims that the investment will help the market generate more clean energy and green attributions, meeting the needs of corporate consumers in terms of clean energy access and helping them fulfill their environmental, social, and governance (ESG) obligations.
In summary, as a seasoned developer of solar projects, Solarvest Holdings Berhad has successfully helped clean energy partners and investors to bid on about 443.4 MWp of CGPP. With a potential income of over 714 million, the group is actively pitching the EPCC chances at the moment.
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According to the statement, both businesses are investigating working together under the most recent version of the Corporate Renewable Energy Supply Scheme (CRESS) in order to produce more clean energy and assist corporate clients in meeting Malaysia’s national renewable energy target of 40% capacity by 2050.
Davis Chong Chun Shiong, Executive Director and Group Chief Executive Officer of Solarvest, said the demand for RECs are increasing in Malaysia, driven by investments in data centers and the semiconductor industry. Many companies have set ambitious sustainability goals, including achieving net-zero carbon emissions, However, limited roof space can make fulfilling net-zero commitments challenging,” he noted.
Expert in renewable energy, Solarvest has operations in seven countries throughout Asia-Pacific. Initially, the Malaysian-founded company offered utility-scale solar farms, commercial & industrial, and residential customers a one-stop shop for solar photovoltaic system solutions.
As of right now, the company’s finished and ongoing renewable energy portfolio stands at approximately 1,200MW.
The company is currently exploring alternative clean energy solutions, such as energy efficiency, low-carbon mobility, hydrogen, data centers, battery storage, and renewable energy certificates.
About Solarvest
Solarvest, a renewable energy expert, operates in 7 Asian nations. The Malaysian company began as a one-stop shop for residential, commercial, industrial, and utility-scale solar farms. Solarvest’s renewable energy portfolio exceeds 1,200MW.
