In a recent development, HEB, a prominent entity, wishes to announce a significant achievement. On August 15, 2023, a consortium comprising HSS Engineering Sdn Bhd (HSSE), Shizen Malaysia Sdn Bhd, Solarvest Asset Management Sdn Bhd, and Aziho Trading Sdn Bhd received a Letter of Notification from the Energy Commission (ST), marking a pivotal milestone for a dynamic initiative.
The consortium, with HSSE as a subsidiary of HEB, was selected to develop a Photovoltaic Plant (PV Plant) with an export capacity of 29.99MW. This noteworthy project is set to shape Malaysia’s renewable energy landscape.
The Photovoltaic Plant project falls under the Corporate Green Power Programme (CGPP), a pioneering initiative endorsed by the Government of Malaysia. This program presents businesses with the opportunity to engage in the use of renewable energy, thereby supporting environmental, social, and governance (ESG) goals.
The venture includes the development, financing, construction, ownership, operation, and maintenance of the PV Plant on a build, operate, and transfer basis. The Commercial Operation Date (COD) is targeted for December 2025.
This endeavor hinges on fulfilling specific conditions: the execution of a virtual power purchase agreement (PPA) with a corporate consumer committing to procure virtual solar energy for a period of twenty years, and obtaining approval from the Energy Commission in regard to the consortium’s application under the New Enhanced Dispatch Arrangement (NEDA).
The PV Plant project is poised to deliver positive financial contributions to the HEB Group, spanning from the fiscal year ending December 2024 to December 2044.
