KUALA LUMPUR (Nov 27): Meta Bright Group Bhd (KL:MBRIGHT), a property development to renewable energy group, is partnering grocery and retail operator Tunas Manja Sdn Bhd (TMG) to implement cost-effective energy efficiency initiatives.

Through the partnership, Meta Bright will focus on the installation of rooftop solar photovoltaic (PV) systems at TMG-owned and -operated buildings under the Net Energy Metering (NEM) 3.0 Programme.

“This programme allows businesses to generate their own electricity from solar power and offset their energy consumption from the grid, resulting in cost savings and reduced reliance on fossil fuels,” said Meta Bright in a press release statement on Wednesday.

The first installation under this partnership will take place at TMG Mart Wisma Air Putih in Kuantan, with plans to extend the initiative to other TMG locations.

Meta Bright will take the lead in developing, designing, financing, installing and maintaining the PV systems for TMG’s properties.

“Our comprehensive solutions will help TMG reduce its environmental impact, enhance its operational efficiency and contribute to its bottom line,” said Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim.

Furthermore, “the collaboration aligns with Malaysia’s energy transition goals along with Budget 2025 initiatives”, Phang added, saying “partnerships like this are vital to accelerating the adoption of sustainable energy solutions in the country”.

Meta Bright is engaged in various sectors, including hospitality, investment property, property development, energy, leasing and financing, as well as the concrete industry.

Shares of Meta Bright settled one sen or 6.9% lower at 14 sen on Wednesday, valuing the group at RM329.52 million. The counter has declined 32.5% so far this year.