Solarvest Powers Up Malaysia’s Green Energy Future with Five Major Corporate Green Power Agreements!
Solarvest is taking a bold step forward in Malaysia’s energy transition, securing five Corporate Green Power Agreements (CGPAs) with some of the biggest names in the financial services, semiconductor, and data center industries. This is a significant milestone under Malaysia’s Corporate Green Power Programme (CGPP), and it’s a game-changer for corporate sustainability! Through strategic joint ventures—one with Savelite Engineering Sdn Bhd and TNB Renewables Sdn Bhd, and another solely with TNB Renewables—Solarvest will own and develop two large-scale PV arrays in Lumut, Perak, and Kulim, Kedah. These solar power plants will generate a combined electricity capacity of 59.98MW for the next 21 years, all backed by a contract for difference mechanism at agreed pricing.
This initiative is more than just about powering businesses; it’s about driving Malaysia’s energy transition. The CGPP allows corporations to procure virtual renewable electricity, eliminating the need for on-site solar installations. By participating, corporate consumers not only gain access to clean energy but also receive bundled Renewable Energy Certificates (RECs) that validate the green origin of their electricity—helping them achieve their sustainability targets. Davis Chong Chun Shiong, Executive Director and Group CEO of Solarvest, expressed his pride in these partnerships: “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 honoured to have earned the trust of these industry leaders as their decarbonisation partner. With our track record in utility-scale projects, we are confident in providing our corporate consumers with sustainable energy solutions to advance their sustainability goals.” These agreements not only strengthen Solarvest’s recurring income stream through electricity sales but also cement the company’s position as a leader in Malaysia’s renewable energy sector. Corporate giants are also voicing their support. Amarjit Sandhu, Corporate Vice President, Assembly & Test NAND Operations at Micron Technology, highlighted the importance of the partnership: “Our participation in the CGPP reinforces our commitment to building a greener and more sustainable future, while driving innovation in the semiconductor industry. Micron remains a responsible corporate stakeholder, aligned with Malaysia’s National Energy Policy and National Energy Transition Roadmap.”
Hezri Adnan, Director of Group Sustainability at Bursa Malaysia, echoed this sentiment: “Sustainability plays an integral part of Bursa Malaysia’s agenda. We recognise our responsibility to influence capital market participants towards sustainable practices. We strive to lead by example and will continue to actively mitigate our climate impact through various approaches.” Beyond the CGPP, Solarvest is actively exploring collaborations, including with Micron, to further reduce carbon footprints and support zero-emission goals through the newly launched Corporate Renewable Energy Supply Scheme. This innovative approach, with open grid access and third-party access, allows Solarvest to supply electricity to corporate clients via the national grid, revolutionizing how green energy is delivered in Malaysia. Solarvest is lighting the way for a greener future in Malaysia, empowering corporations to embrace sustainability and lead the charge in the global energy transition. Stay tuned as Solarvest continues to expand its green energy footprint! #RenewableEnergy #SolarPower #Malaysia #Solarvest #Sustainability #CorporateGreenPower #CGPP #CleanEnergy #EnergyTransition #GreenEnergy #Innovation