NEFIN Secures Solar Power Producer Role in Malaysia’s CGPP, Paving the Way for a 45MW Solar Farm Project in Perak

NEFIN, a prominent independent green power producer in the Asia Pacific region, has been selected as one of the Solar Power Producers for the Corporate Green Power Programme (CGPP) by the Energy Commission (Suruhanjaya Tenaga). The company will spearhead a RM130 million, 45MWp solar farm project in Teluk Intan, Perak, as part of this initiative.

The 29.99 MW AC solar power plant is slated to commence construction in 2024, aiming to generate 60,750MWh of clean energy annually, potentially offsetting 47,385 tons of CO2 emissions. This development has attracted the interest of two Fortune 500 companies committed to green energy practices, including a high-tech firm and a global snacking corporation.

Operating as a virtual power purchase programme (VPPA), the CGPP enables corporations to obtain and utilize renewable energy through Renewable Energy Certificates (RECs) to meet their decarbonization goals. Set to begin commercial operations in 2025 through the NEDA program, this project marks NEFIN’s inaugural solar farm project in Malaysia.

Chong Bor Hung, Managing Director of NEFIN SEA and Head of Business Development of NEFIN Group, expressed pride in leading initiatives that support industries in their decarbonization and sustainability goals. NEFIN, a market leader in the C&I carbon-neutral solutions industry, aims to guide corporations toward a carbon-neutral future by facilitating renewable energy targets through a broad range of business offerings.

As of 2023, NEFIN has successfully generated 200GWh of renewable energy with valued customers across diverse industries. The company plans to deliver 100MW of C&I renewable energy projects annually in Southeast Asia, fostering further collaborations with corporations interested in procuring green energy through VPPA to mitigate their carbon footprint.

Amidst the region’s lagging progress on Sustainable Development Goals (SDGs), NEFIN’s custom carbon-neutral solutions play a crucial role in easing companies’ energy transition and helping them meet their climate goals. The company’s commitment is evident in recent projects such as a Battery Energy Storage System (BESS) in Mainland China, where a 2MW/4MWh industrial and commercial energy storage project was completed with Shenzhen Wanda Plaza, and another 2MW/4MWh energy storage project was signed with Bosch in Nanjing. NEFIN is also exploring opportunities in green real estate and cross-border energy supply networks.

Glenn Lim, CEO of NEFIN Group, highlighted the global corporate shift towards sustainability, emphasizing NEFIN’s role in driving substantial progress for corporations in their sustainability endeavors. The company encourages corporations to integrate Environmental, Social, and Governance (ESG) practices, particularly in the environmental pillar, and is actively exploring opportunities to include BESS in existing solar assets and future project development plans in the Asia Pacific, inviting more corporations to contribute to a sustainable future.