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Malakoff Radiance Sdn Bhd (“Malakoff Radiance”), a subsidiary of Malakoff Corporation Berhad (“Malakoff”), has completed the signing of six Solar Power Purchase Agreements (“SPPAs”) for the development of rooftop solar energy systems with companies under
the DRB-HICOM Group today. The companies, namely CTRM Aero Composites Sdn Bhd, HICOM Automotive Manufacturers (Malaysia) Sdn Bhd, Isuzu HICOM (M) Sdn Bhd, HICOM Teck-See Manufacturing Sdn Bhd, HICOM Berhad and Motosikal dan Enjin Nasional Sdn Bhd are manufacturing and engineering arms of the DRB-HICOM Group.
The solar facilities will be installed under a Build-Own-Operate-Transfer (“BOOT”) contract as part of a 25-year SPPA. Upon completion, these facilities are expected to generate 18,836 MWh of clean electricity per annum. These will collectively neutralise about 13,072 tonnes of carbon emissions per year from the manufacturing industry.
CTRM Aero Composites Sdn Bhd – 5,152 kWp
HICOM Automotive Manufacturers (Malaysia) Sdn Bhd – 2,000 kWp
Isuzu HICOM (M) Sdn Bhd – 2,000 kWp
HICOM-Teck See Manufacturing Sdn Bhd – 2,000 kWp
HICOM Berhad 1,004 kWp
Motosikal dan Enjin Nasional Sdn Bhd – 1,249 kWp
Malakoff’s Managing Director/Chief Executive Officer Anwar Syahrin Abdul Ajib said this demonstrates Malakoff’s commitment to expand its Renewable Energy (“RE”) generation portfolio. He is confident that Malakoff is on the right track to capture new growth opportunities in the RE sector as this project is yet another milestone in the Group’s expansion in the rooftop solar segment.
“We have the capacity and capability to further embark on collaboration and ventures with any business entity for rooftop solar systems. I am optimistic about the growth in the rooftop solar segment that we are experiencing now given the drive by many businesses to tackle the global issue on climate change. As a leading player in the power and waste management sector, our clients and partners trust our ability to help them achieve their agenda on tackling carbon emissions.”
“We look forward to achieving our long-term goal of being a sustainable clean energy solutions provider while giving value-added services to our clients in realising cost savings and enhancing efficiency in their operations. More importantly, this is a great opportunity for all parties to contribute towards the country’s transition to a clean energy future. Malakoff itself is undertaking a transformation towards decarbonisation by 2050.
These are the types of projects that will provide building blocks to enable us to achieve carbon neutrality and eventually net-zero carbon emissions by 2050,” added Anwar.
Malakoff’s quest for RE expansion is in line with the Malaysian government’s aim of meeting the RE capacity mix target of 31% by 2025. Malakoff had recently secured other rooftop solar projects with the country’s largest mall operator, AEON Co. (M) Bhd and renowned logistics industry players such as Northport (Malaysia) Bhd, Johor Port Berhad and Pos Malaysia Berhad. All these projects combined, with a total capacity of 25,444 kWp, will generate 33,243 MWh per annum and neutralise 23,070 tonnes of carbon emissions per year.
These projects are part of Malakoff’s transformation agenda which are aligned with the United Nations 17 Sustainability Development Goals as the company embarks on its quest to contribute towards a sustainable world. Apart from rooftop solar, Malakoff aims to expand into other RE generating capacities such as mini-hydro, waste-to-energy (“WTE”) and biogas power plants in Malaysia.