KUALA LUMPUR, 12 December 2023: NEFIN, a leading green independent power producer in Asia Pacific, 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 45MWp 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 an impressive 200GWh of renewable energy with our valuable 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 100MW 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.
Fostering sustainable energy across the region
The Asia-Pacific region is behind on its Sustainable Development Goals, having achieved only 14.4% of the progress needed halfway to the 2030 target. While sectors like clean energy and infrastructure show promising progress, climate change worsens, demanding urgent attention. Without a significant push, the region is on track to miss a staggering 90% of its SDG targets, making it crucial to multiply efforts across the board. NEFIN’s customised carbon-neutral solution is essential for companies in the region to ease their energy transition and meet their climate goals.
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.
“Corporations worldwide are actively embracing sustainability as a priority. By providing energy efficiency advisory service and a customised carbon-neutral solution, we are driving substantial progress for these corporations in their sustainability endeavours, and we support their commitment. Our solution holds promising potential in addressing climate change and carbon pollution challenges, and we eagerly urge corporations to integrate Environmental, Social, and Governance (ESG) practices into their framework, with a specific emphasis on the environmental pillar. Expanding our efforts into Southeast Asia, we are further exploring opportunities to include BESS in our existing solar assets and to incorporate BESS into future project development plans in the Asia Pacific, inviting more corporations to contribute to a more sustainable future,” commented Glenn Lim, CEO of NEFIN Group.
