Renowned in the clean energy sector, Solarvest Holdings Berhad (Solarvest or the Group) has successfully secured a fresh agreement with Toyo Tyre Malaysia Sdn Bhd (TTM) for the installation of a 14-megawatt-peak (MWp) rooftop solar photovoltaic (PV) system. This pioneering endeavor is set to grace TTM’s tire production facility situated in Kamunting, Perak, and stands as the most extensive undertaking of its kind within the vicinity.
Pursuant to the agreement, the Group will spearhead the engineering, procurement, construction, and commission (EPCC) activities encompassing the establishment of a solar PV system across the primary building facilities, spanning an expansive rooftop expanse measuring 96,000 square meters (sqm). This venture is anticipated to yield a robust 14MWp of clean energy, facilitating Toyo Tyre Malaysia Sdn Bhd (TTM) in offsetting a substantial 12,195 tonnes of carbon dioxide on an annual basis.
Datuk Wira Arham Abdul Rahman, the Chief Executive Officer of Malaysian Investment Development Authority (MIDA), highlighted the strong dedication of TTM in maintaining sustainable operations. He emphasised, “As the world transitions to a low-carbon future and a greener economy, MIDA is taking steps to help businesses overcome the challenges and capture the opportunities on the green transition. We applaud TTM’s RE100 initiatives, which underscore their firm commitment to Environment, Social and Governance (ESG) principles within their corporate framework by collaborating with Solarvest to establish a rooftop solar PV system. This commitment aligns with our National Investment Aspirations (NIA) and the New Investment Policy (NIP), as well as the recently announced National Energy Transition Roadmap (NETR) which are crucial in nurturing sustainable growth and forging a greener future for Malaysia and rakyat.”
Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) said, “We are delighted to have been chosen by TTM to undertake this project and appreciate the confidence they have placed in our technical expertise. With our knowledge and experience, we are confident in our ability to assist TTM in achieving optimal energy efficiency for the plant while ensuring timely project completion.”
“There is a growing interest in clean energy adoption, especially among commercial and industrial (C&I) players as corporate sustainability initiatives gain momentum and in anticipation of carbon pricing mechanisms. Our job pipeline remains strong with a tender book of approximately 2.2 gigawatts (GW) comprising large-scale power plants, C&I, and overseas projects. As a decarbonisation partner, Solarvest is committed to promoting energy transition through efficient renewable energy solutions and innovative green technologies” Mr. Davis concluded.
In alignment with the Malaysian government’s dedicated push towards energy efficiency and the adoption of renewable energy, noteworthy adjustments have been introduced. Specifically, the permissible capacity for solar PV systems within the Net Energy Metering (NEM) and Self-Consumption for Solar PV Installation (SelCo) initiatives has been elevated from 75% to 85% of the maximum demand. Commendably, TTM’s sustainability drive stands as a pioneering effort, positioning it among the early adopters of this heightened capacity threshold. This progressive stance has led to the establishment of one of the most sizable rooftop solar PV systems in the region of Perak.