Jentayu Sustainables Bhd secured a purchase agreement for solar power with Outspan Malaysia Sdn Bhd under the self-consumption scheme (Selco).
It stated that Outspan, a subsidiary of Olam International Ltd, Singapore, had a facility at Port of Tanjung Pelepas Free Zone, which operates a dairy processing unit producing fat-filled milk powders and other dairy ingredients.
The agreement is worth more than RM5 million and covers a 20-year term at a fixed tariff. This allows Outspan electricity purchases at a lower rate than the grid, which gives them about 10% savings over the contract period.
Outspan will not require any capital or investments. All rooftop solar PV system costs and related installation costs will be covered by Jentayu Sustainables.
Datuk Beroz Nikmal Midin, Jentayu executive chairman, said that the agreement is part of Jentayu’s business expansion plan. It addresses the Olam group’s net zero aspiration. Jentayu needs to do more research into sustainable and cleaner energy.
“This deal also aims to identify more regional synergistic possibilities and opportunities that transcend beyond solar PV systems like renewable energy certificate acquisitions and carbon credit acquisitions. It also includes carbon-related audits as well as consultations.”
He said, “We are steadfast in our pursuit of becoming a leading player in sustainable energy, building from strength in strength, and putting sustainability at the center of all that we do.”
.){kind=link}