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Affordable housing and integrated township developer, Lagenda Properties Berhad has appointed clean energy specialist, Solarvest Holdings Berhad (“Solarvest”) as its
solar photovoltaic (“PV”) systems partner to build the largest sustainable affordable township in Malaysia.
For a start, Solarvest will install 1,000 residential solar PV systems across three township projects developed by Lagenda Properties in the state of Perak, Malaysia. These solar-ready homes are in line with the Malaysian government’s recent launch of the NEM Rakyat program. The PV system can generate energy up to 98% of the monthly electricity usage.
As solar energy is rapidly gaining traction in Malaysia, the demand for solar-powered homes is also increasing as more Malaysians are spending time working from home. The idea of having an environmentally friendly home that offsets utility bills and carbon footprint has become more appealing to homebuyers. Moreover, the economic benefits of solar-powered homes such as energy efficiency and potential capital appreciation of the home’s value further add to the attractiveness.
The shift in purchasing preference has encouraged property developers such as Lagenda Properties to develop townships that offer not only quality homes but also eco-friendly living environments. Solarvest will be supporting Lagenda Properties to build these future-forward homes by undertaking the solar design, supply, installation, testing, and commissioning works for the selected 1,000 homes located in Perak.
Upon completion of the project, the three townships will potentially produce approximately 2.8GWh of clean electricity which neutralises about 1,950 tonnes of carbon emissions per year.
Managing Director of Lagenda Properties Bhd, Dato Jimmy Doh Jee Ming said, “Lagenda Properties’ sustainable township is designed to cater for the B40 and M40 income groups. We will continuously incorporate elements that can improve their quality of life at an affordable rate. We saw numerous households facing the challenge of increased electricity bills during the MCO period and this prompted us to find an alternative solution.
Solar panels have the ability to reduce house temperature and generate electricity all year round. Partnering with Solarvest allows us to leverage economies of scale to deliver the greatest value to our house buyers. With savings from utility bills over the long term, Lagenda Properties’ home buyers will ultimately enjoy a lower cost of living, adding to the attractiveness and affordability of our projects.”
“Lagenda Properties is fully supportive of the Energy Ministry’s NEM Rakyat program as we aim to build at least one new sustainable township every year. It is noteworthy that Malaysia is a country of abundant resources including sunlight. We are adopting the use of renewable energy in our developments as we seek to conserve nature’s heritage for our future generations.”
Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong said, “The tie-up with Lagenda Properties represents a breakthrough in our expansion to the property market. It is also by far our single-largest residential solar project and that makes it even more meaningful to us. Through this project, we will be providing the local communities direct access to green energy and at the same time enabling them to partake in the
net-zero movements right from their homes. This marks a step forward in realising our vision to create a world generated by renewable energy.”
“We aim to replicate such partnership with more property developers across the regions to create a holistic living environment for the communities in Malaysia. It is a win-win situation to include solar in the blueprint for township development as it helps property developers fulfill their environmental goals as well as provide customers with self-sufficient homes. Our intention is in line with the Government’s push for solar adoption in
the property sector and we hope more industry players will take advantage of such initiatives,” he added.