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Top Glove Signs PPA With Shizen Malaysia To Develop 10 MW Solar Power System

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Top Glove Corporation Bhd (“Top Glove”) is the largest glove manufacturer in the world. Top Glove entered into a 20 year Power Purchase Agreement (“PPA”) for Shizen Malaysia Sdn Bhd (“Shizen Malaysia”), which covers the solar power system of the healthcare manufacturer. It was especially significant that the ceremony to sign the partnership occurred on Earth Day. This is when the entire world gathers to act boldly and innovate broadly to make positive changes for the planet.

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This partnership will see Shizen Malaysia install, own and operate a 10 Megawatt peaking grid. Top Glove will then purchase the electricity produced by Shizen Malaysia for a period of 20 years. The partnership is a continuation of previous partnerships between Top Glove, the renewable energy developer, which began in November 2021. Top Glove’s initial partnership on the rooftop solar power station allowed it to produce clean, competitive renewable energy at its factories. This helped reduce the Company’s average electricity price and reduced its carbon footprint.

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Lim Cheong Guan (Executive Director of Top Glove) stated that climate change is a global problem that impacts our daily lives. Malaysia has committed to becoming carbon-neutral by 2050, contributing to the global fight against climate change.

Top Glove, a Malaysian-owned company with global reach, has a responsibility to support this national agenda. We are in close collaboration with Shizen Malaysia on a component for solar energy. This will help us achieve our goal of reducing Top Glove’s carbon emissions intensity of 25% by FY2025. Top Glove is committed to becoming carbon-free in future.

Alvin Koh (Chief Executive Officer at Shizen Malaysia) said: “We are thrilled to extend our long-term partnership with Top Glove. A company that shares our vision for a greener planet for all.

“Given increasing awareness about the benefits of renewable energie (“RE”), and its importance to reducing global warming, we are certain that more industry leaders will embrace RE as part their environmentalist agenda.”

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Eight of Top Glove’s Malaysian factories have been fitted with solar energy systems to date. Plans are in place for 16 more factories by 2023. Top Glove’s solar power capacity will rise from 5.34 MWp up to 15.47MWp. This will result in a reduction of approximately 13,000 tonnes of CO2 emissions each year. This is equivalent to planting 400,000 trees to absorb this much CO2.

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