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NEFIN''s sustainability strategy creates a more sustainable future for our
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NEFIN, a Hong-Kong-based green independent power producer has been chosen as one of the Solar Power Producers for the Corporate Green Power Programme (CGPP) by the Energy Commission. This selection involves NEFIN undertaking a 45MWp solar farm project in Teluk Intan, Perak state worth MYR 130 million (USD 27.5 million).
The 29.99 MW AC capacity solar power plant is set to commence construction in 2024, aiming to generate 60,750MWh of clean energy annually. The project is expected to offset 47,385 tons of CO2 emissions each year. Notably, the initiative has attracted interest from two Fortune 500 companies, a high-tech firm, and a global snacking corporation, sparking contract negotiations.
NEFIN, through the CGPP operating as a virtual power purchase program (VPPA), is positioned to contribute significantly to Malaysia’s renewable energy landscape. The company aims to secure 100MW of solar power projects across Southeast Asia in 2024, with Malaysia playing a substantial role. This expansion is driven by increased market penetration and NEFIN’s goal to collaborate with corporations pursuing green energy practices through VPPA, aligning with their decarbonization objectives. As of 2023, NEFIN has successfully generated 200GWh of renewable energy and is on track to deliver 100MW of C&I renewable energy projects annually in Southeast Asia.
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NEFIN Group, the APAC power producer, has secured a significant solar farm project in Teluk Intan, Perak, Malaysia, indicating a substantial stride towards sustainable energy production in the region. The project, costing approximately RM130 million, is anticipated to generate 60,750 MWh of clean energy annually, effectively offsetting thousands of tons of CO2 emissions.
This initiative is said to be a part of the Corporate Green Power Programme (CGPP) led by the Energy Commission (Suruhanjaya Tenaga). This reveals Malaysia’s commitment to transitioning towards renewable energy sources. Glenn Lim, CEO of NEFIN, highlighted a remarkable 40% increase in revenue and the acquisition of substantial capacity expansions across the region. Lim expressed enthusiasm about securing projects exceeding 100 megawatts, expected to commence construction this year.
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