NEFIN is a solar developer which has collectively delivered over 300 megawatts (MW) of utility-scale, commercial and industrial rooftop solar systems regionally.
Under the PPA, XSD will initially instal a 9.2MW peak solar photovoltaic (PV) system on its planned facilities at the Kulim Industrial Park, located in Padang Meha, Kedah.
The project will see NEFIN building a solar PV system that consists of approximately 21,000 solar PV panels that will collectively generate over 13.5 million kilowatt-hour (kWh) clean energy and off-setting approximately 9,369 tonnes carbon emissions annually.
The construction of the project was expected to be completed by the third quarter of 2021, XSD said.
XSD president Joyce Shi said the company had earmarked a RM35 million investment target for a combination of green initiatives, which include water and air system, as well as the solar PV system project.
“We intend to build a green paper industry park here and we are currently in talks with several industry leaders to roll out the plans, such as NEFIN and Solarvest for the provision of engineering, procurement, construction and commissioning for our solar projects,” she said in a statement today.
Shi added that sustainability had been a vital focus for XSD’s business as the company moved towards “green paper-making” and the recycling economy.
“We have built a value chain that employs a closed-loop system, emphasising on reuse, remanufacture, and recycle, starting from our point of collection of raw materials to production and waste management.
“In line with our goal to be a socially responsible and environment-friendly enterprise, we use recyclable materials such as wasted paper and adopts wasted water processing system to produce our paper products,” she said.
XSD made its foray into Malaysia in 2018 with a RM1.2 billion investment plan to develop a green paper industry park in Kulim, Kedah, as part of its relocation plans into the Southeast Asia market.
The development will help spur the economic growth in the area and create approximately 1,300 job opportunities for the locals in a single phase.