Solarvest signs 60 MW solar PPAs with Malaysian corporates

Image by Solarvest (solarvest.my).

Malaysian solar installer Solarvest Holdings Bhd (KLSE:SLVEST), along with utility partners, has sealed five deals to supply electricity from 60 MW of solar parks at home to several corporate customers enrolled in a national programme.

The power purchase agreements (PPAs) were signed with Malaysian multi-asset exchange Bursa Malaysia, semiconductor manufacturer Micron Technology and another sector player with an undisclosed name, and a global data centre service provider. Solarvest said on Friday it took part in the deal through two joint ventures, one with Savelite Engineering and TNB Renewables, and another one solely with TNB Renewables.

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The corporate clients will offtake the output of two solar parks for 21 years. The facilities are located in Lumut, Perak and Kulim, Kedah.

The Malaysian government’s corporate green power programme (CGPP) allows corporations to procure virtual renewable electricity without the need to install photovoltaic (PV) arrays at their properties. By participating in the scheme, they secure bundled Renewable Energy Certificates (RECs) that guarantee the origin of the power they consume.

Solarvest and its partners have been awarded a total export capacity of 90 MW under the specific programme.

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