KUALA LUMPUR (June 4): Khazanah Nasional Bhd's sustainable energy subsidiary Cenergi SEA Bhd has signed a strategic alliance agreement with solar service provider Fabulous Sunview Sdn Bhd (Sunview).
In a statement on Friday (June 3), Cenergi said the deal is to collaborate on developing utility scale solar photovoltaic projects and providing integrated sustainable energy solutions to help commercial and industrial (C&I) customers achieve their corporate sustainability and decarbonisation goals.
Under the deal, Cenergi will be the project developer, investor, and operator while Sunview will be the engineering, procurement, construction and commissioning (EPCC) partner.
It said both parties are pursuing and developing over 25 megawatt (MW) of solar projects in Malaysia, including zero-cost rooftop solar installations for C&I customers and a large-scale solar farm.
It said both companies intend to scale up their strategic collaboration to add more solar projects of up to 100MW either on large scale solar (LSS) programme, New Enhanced Dispatch Arrangement (NEDA) scheme or future virtual power purchase agreement (VPPA) scheme.
They also target to secure at least 15MW of C&I rooftop solar projects per year for the next three years.
Cenergi group chief executive officer (CEO) Hairol Azizi Tajudin said the collaboration sets another milestone for Cenergi, following its issuance of the corporate green sukuk programme last year after being recently awarded five biogas feed-in tariff (FiT) projects with a total capacity of 10.8MW by SEDA Malaysia.
He said the company would join forces with Sunview to offer sustainable energy solutions to clients in Malaysia and Southeast Asia, helping them to accelerate their ESG agenda, and to support the Malaysian government's aspiration to increase renewable energy capacity to 40% by 2035 and towards carbon neutral status as early as 2050.
Meanwhile, Sunview CEO Ong Hang Ping said aside from C&I projects, Sunview is currently constructing an approximately 11MWp ground-mounted solar farm under NEDA scheme for Cenergi.
“We look forward to delivering more projects for Cenergi in the future,” Ong said.