Solarvest Holdings Bhd has recently secured five significant corporate green power agreements (CGPAs) as part of Malaysia’s Corporate Green Power Programme (CGPP). These agreements are with a prominent Malaysian multi-asset exchange, two major global semiconductor companies, and a top data centre service provider.
In a statement, Solarvest, a clean energy specialist, revealed that these agreements are made through two joint ventures: one with Savelite Engineering Sdn Bhd and TNB Renewables Sdn Bhd, and another solely with TNB Renewables Sdn Bhd. The CGPAs will see Solarvest and its partners developing two solar power plants in Lumut, Perak, and Kulim, Kedah.
Under the agreements, the corporate clients will purchase a total of 59.98 megawatts (MWac) of electricity from these solar plants over the next 21 years. The agreements include various pricing mechanisms to be finalized with the clients.
Davis Chong Chun Shiong, Executive Director and Group CEO of Solarvest, stated that these agreements represent a significant step towards a more competitive energy market in Malaysia. He expressed pride in being selected by leading companies in the financial and technology sectors as their partner for decarbonisation. Solarvest’s established experience in utility-scale projects supports its role as a reliable solar power producer, committed to helping clients achieve their sustainability objectives.
The new CGPAs will contribute to Solarvest’s recurring revenue stream from electricity sales. Overall, Solarvest and its consortiums have been allocated a total export capacity of 90 MWac under the CGPP by the Energy Commission.
