KUALA LUMPUR: Meta Bright Group Bhd (MBGB) has achieved its commercial operation date (COD) for its solar project under the solar photovoltaic (PV) zero capex program for Sinergi Perdana Sdn Bhd (SPSB) on March 21, 2024.
SPSB is owned by the Rubber Industry Smallholders Development Authority (RISDA), which is part of the Ministry of Rural and Regional Development.
The solar project, developed by MBGB’s wholly-owned subsidiary FBO Land (Setapak) Sdn Bhd (FLSB), has a capacity of up to 401.76 kWp.
MBGB executive director of corporate and strategic planning Derek Phang Kiew Lim said the successful completion of installation for the solar project with SPSB marks a significant milestone in the company’s journey towards sustainability.
“This project not only exemplifies our commitment to renewable energy but also aligns with the government’s initiatives to promote clean energy solutions.
“We are excited about the positive impact this project will have on our earnings and the environment,” he said in a statement.
This initiative is part of a 21-year renewable energy supply agreement, offering SPSB a 20 per cent discount to the prevailing Tenaga Nasional Bhd (TNB) tariff rates, equipped with imbalance cost pass-through (ICPT).
Further, this project is estimated to mitigate approximately 380.81 tonnes of CO2 emissions annually, thus contributing significantly to environmental sustainability by reducing carbon footprints, combating climate change and promoting cleaner energy alternatives.
In addition to the successful installation of the Sinergi Perdana project, MBGB is actively pursuing new opportunities in the renewable energy sector. The company is currently exploring projects in the Commercial & Industry (“C&I”) segment worth approximately RM34.7 million.
MBGB stated that the total value of projects that have completed installation stands at approximately RM3.55 million.
Additionally, the company has projects currently in progress valued at around RM11.89 million.
The commercial operation of this project is expected to provide MBGB with sustainable earnings income, contributing positively to the company’s long-term financial stability.
Furthermore, the project is projected to mitigate a significant amount of CO2 emissions, reinforcing the company’s dedication to clean energy and a greener, sustainable future.
The solar program’s acceptance by SPSB is a testament to the trust placed in MBGB’s ability to deliver mutually beneficial and sustainable renewable energy solutions.
The company is optimistic about expanding participation in its solar PV zero capex program with other Malaysian enterprises, demonstrating its capability to contribute to sound environmental, social, and governance (ESG) practices.
