NEFIN Group, the APAC power producer, has secured a significant solar farm project in Teluk Intan, Perak, Malaysia, indicating a substantial stride towards sustainable energy production in the region. The project, costing approximately RM130 million, is anticipated to generate 60,750 MWh of clean energy annually, effectively offsetting thousands of tons of CO2 emissions.
This initiative is said to be a part of the Corporate Green Power Programme (CGPP) led by the Energy Commission (Suruhanjaya Tenaga). This reveals Malaysia’s commitment to transitioning towards renewable energy sources. Glenn Lim, CEO of NEFIN, highlighted a remarkable 40% increase in revenue and the acquisition of substantial capacity expansions across the region. Lim expressed enthusiasm about securing projects exceeding 100 megawatts, expected to commence construction this year.
The Teluk Intan solar farm project, boasting a capacity of 29.99 MW AC, is poised to become a pivotal asset in NEFIN’s portfolio. Lim noted its potential to attract global corporations, including Fortune 500 companies such as a high-tech firm and a global snacking corporation, both expressing interest in procuring renewable energy solutions.
Lim revealed the project’s journey, tracing back to its inception with Intel in 2016, and attributed its success to Malaysia’s progressive policies. He specifically mentioned the virtual Power Purchase Agreement (PPA), enabling companies to procure green power innovatively, thus supporting carbon neutrality objectives.
Dwelling on the year 2024 and beyond, Lim outlined NEFIN’s ambitious expansion plans across Asia, particularly focusing on North Asia and ASEAN growth markets such as Thailand, Vietnam, Malaysia, and the Philippines. Lim disclosed plans to connect 667 megawatts over the next three years, emphasizing the company’s strategic vision for amplifying its green energy footprint.
The NEFIN Group’s involvement in the Teluk Intan solar farm project signifies a significant milestone in Malaysia’s renewable energy journey and underscores the growing momentum towards sustainable energy production in the region.