Solarvest secures five Corporate Green Power Agreements for solar projects in Malaysia

The Corporate Consumers will collectively acquire 59.98 megawatts (MWac) of electricity generated from these plants over a 21-year period. The pricing is determined through a contract for a difference mechanism. 

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The initiative demonstrates the Malaysian government’s dedication to advancing the country’s energy transition.  

It allows corporations to purchase virtual renewable electricity through the CGPA model, removing the need for on-site solar installations.  

By joining the CGPP, corporate consumers receive bundled Renewable Energy Certificates (RECs), which confirm the electricity’s renewable origin and help them meet their sustainability goals. 

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Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong said, “The CGPP marks a significant stride towards a more open and competitive energy market in Malaysia as driven by the principle of demand and supply. We are honored to have earned the trust of these companies who are industry leaders in the financial services and technology sector as their decarbonisation partner.” 

He added, “Leveraging our established track record in developing utility-scale projects, we are confident in fulfilling our role as a Solar Power Producer, providing our Corporate Consumers with sustainable energy solutions to advance their sustainability goals.” 

The CGPAs that have been signed, each lasting for a period of 21 years, are set to enhance Solarvest’s consistent revenue flow from the electricity sales generated by these solar power plants.