NEFIN, a green independent power producer in Asia Pacific, has announced that it has been chosen as one of the Solar Power Producers for the Corporate Green Power Programme (CGPP) by the Energy Commission (Suruhanjaya Tenaga), where the company will undertake a 45 MWp solar farm project, cost approximately
RM130 million, in Teluk Intan, Perak as a part of this initiative.
The 29.99 MW AC capacity solar power plant is scheduled to start construction in 2024, where it is expected to generate 60,750MWh of clean energy and potentially offset 47,385 tons of CO2 emissions annually. This development has garnered attention and sparked contract negotiations from two Fortune 500 companies committed to embracing green energy practices. Notably, these companies include a high-tech firm and a global snacking corporation.
The CGPP, operating as a virtual power purchase programme (VPPA), empowers corporations to acquire and utilise renewable energy through a Renewable Energy Certificate (REC) in pursuit of their decarbonisation objectives. Scheduled to commence commercial operations in 2025 through the NEDA programme, this project marks another significant milestone as NEFIN’s first solar farm project in Malaysia. Chong Bor Hung, Managing Director of NEFIN SEA and Head of Business Development of NEFIN Group said, “We are proud to lead initiatives supporting industries in their decarbonisation and sustainability goals. As a market leader in the C&I carbon-neutral solutions industry, we aim to guide corporations toward a carbon-neutral future by helping them meet renewable energy targets through our broad range of business offerings. In this upcoming project, we see a tremendous potential to encourage more corporations, who may not have the physical premise or capacity to install their own renewable energy system, to join us in working towards a cleaner and more sustainable tomorrow.”
As of 2023, NEFIN has successfully generated 200 GWh of renewable energy with customers across various industries, including Kah Motor, O.E. Manufacturing, Ng Ai Food Industry, Atlas Copco, Sunstream, Thep Watana, Kingboard, TexChem, KLK Industry, Supermodel Energy, Model Sports Club, Mydin, IQ Group, Biocon Biologics and Meditech Gloves. NEFIN is on track to deliver 100 MW of C&I renewable energy projects annually in Southeast Asia. Looking ahead, NEFIN aims to forge further collaborations with corporations interested in procuring green energy through VPPA to mitigate their carbon footprint.
NEFIN’s dedication to comprehensive carbon-neutral solutions is evident in its recent Battery Energy Storage System (BESS) project in Mainland China, where the company has completed a 2MW/4MWh industrial and commercial energy storage project with Shenzhen Wanda Plaza and signed another 2MW/4MWh energy storage project with Bosch in Nanjing.
The company is also exploring opportunities in green real estate and cross-border energy supply networks.
