Malakoff, Solarvest to drive solar-powered logistic facilities - MIDA | Malaysian Investment Development Authority
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Malakoff, Solarvest to drive solar-powered logistic facilities

Malakoff, Solarvest to drive solar-powered logistic facilities

25 Jun 2021

The tie-up will power up the logistic facilities of renowned industry players, namely Pos Malaysia, Northport and Johor Port

Malakoff Radiance Sdn Bhd, a wholly owned subsidiary of Malakoff Corp Bhd, has appointed Solarvest Holdings Bhd as its solar photovoltaic (PV) systems contractor to accelerate its solar power purchase deals with several logistic players in Malaysia.

In a statement yesterday, Malakoff said the tie-up will power up the logistic facilities of renowned industry players, namely Pos Malaysia Bhd, Northport (M) Bhd and Johor Port Bhd, with advanced solar PV systems, transforming the respective rooftops into solar powerhouses.

The solar facilities installed will be under a solar power purchase agreement (SPPA) ranging between 20 and 25 years.

Upon completion, the total generation from the three facilities is expected to produce 11,609.90 megawatt per hour of clean electricity per annum.

These will collectively neutralise about 8,057 tonnes of carbon emissions per year for the logistics industry.

Solarvest will be undertaking the engineering, procurement, construction and commissioning works, while Malakoff finances and owns the rooftop solar assets throughout the duration of the SPPA.

“More and more green logistics hubs are emerging around the world to meet the increasing demand for eco-friendly logistics services.

“As the largest independent power producer (IPP) in the country, it is vital for Malakoff to enable the access to sustainable energy for local industry providers and pave the way for businesses to reform its electricity consumption,” said Malakoff CEO Anwar Syahrin Abdul Ajib (picture).

He added that the fixed electricity tariff through SPPA will protect businesses from any potential price hikes and help in cost savings. This allows business owners to allocate more financial resources to fuel its future expansion.

Solarvest group CEO Davis Chong Chun Shiong said this association enabled the company’s involvement in realising industry leaders’ sustainability goals.

“The utilities industry in Malaysia is in the middle of a rapid change, and having an established IPP such as Malakoff investing in solar projects further signifies the massive growth potential of the domestic renewable energy (RE) industry,” he said.

He added that there has been significant growth in demand for clean energy from the private sector, especially those that require high-level energy usage.

“This is evidence in the rapid uptake for the quota allocated through the recent Net Energy Metering programmes by commercial and industrial consumers. We aim to replicate such joint efforts with reputable RE players such as Malakoff in our endeavour to unlock more green energy to the nation,” said Chong.

Source: The Malaysian Reserve