KUALA LUMPUR: Solarvest Holdings Bhd today said almost two-thirds of its export capacity under the Corporate Green Power Programme (CGPP) programme has been taken up by five corporate customers.
The CGPP offers corporations the opportunity to procure virtual renewable electricity, eliminating the necessity to install solar photovoltaic assets on their premises.
By participating in the CGPP, corporate consumers can obtain bundled Renewable Energy Certificates (RECs), verifying the origin of electricity from renewable energy resources in supporting their sustainability goals and commitments.
In a statement today, Solarvest said it secured five separate Corporate Green Power Agreements (CGPAs) with a Malaysian multi-asset exchange, two global leading semiconductor manufactures, and a leading global data center service provider under the CGPP for offtake of 59.98 megawatts (MWac) of solar energy collectively.
Under these CGPAs, Solarvest and partners as solar power producers will undertake the ownership and development of two solar power plants located in Lumut, Perak and Kulim, Kedah.
Corporate consumers will collectively offtake the 59.98MWac electricity generated from the solar power plant for 21 years, with a contract for difference mechanisms at an agreed pricing.
The CGPA is a financial transaction between a corporate consumer and a solar developer that does not involve the physical transfer of electricity.
Among the corporate consumers include Micron Technology and Bursa Malaysia.
The CGPAs were made through two joint ventures namely one with Savelite Engineering Sdn Bhd and TNB Renewables Sdn Bhd, and another solely with TNB Renewables Sdn Bhd.
Solarvest said on top of the CGPP programme, Solarvest is actively exploring a potential collaboration with Micron to achieve its zero-emission goal and explores ways to reduce its carbon footprint through the newly launched Corporate Renewable Energy Supply Scheme (CRESS).
The open grid access concept and third-party access (TPA) allows Solarvest to supply electricity to corporate clients in Malaysia via the national grid network.