Petronas eyes growth in local RE business

by HARIZAH KAMEL/ pic by TMR FILE

PETROLIAM Nasional Bhd’s (Petronas) new energy business unit foresees growth in the local renewable energy (RE) market through NE Suria Satu Sdn Bhd (NESS), a joint-venture company between Petronas and NEFIN Group.

With Tesco Stores (Malaysia) Sdn Bhd as its first commercial customer, NESS will be providing a solar rooftop solution covering design, installation, operation and maintenance of solar photovoltaic (PV) panels for selected Tesco stores nationwide.

The provision of the solar rooftop solution is now ongoing until 2040, after the signing of a 20-year power purchase agreement (PPA) between NESS and Tesco, the largest commercial solar PPA of its kind in Malaysia.

Petronas head of new energy Dr Jay Mariyappan said the PPA is a testimony to its significant growth aspirations as a company that provides sustainable energy solutions.

“This first venture with Tesco signifies our commitment to realising our vision of becoming a leading global provider of cleaner, reliable and cost-effective energy solutions.

“Partnerships are imperative to succeed in the dynamic energy industry as it enables us to provide more competitive and customer-centric solutions,” he said in a statement yesterday.

He added that collaboration has always been a key enabler for Petronas to grow its businesses and support a mutual green and clean agenda, together with its partners.

The first phase of the project will collectively generate about 18-gigawatt hours (GWh) of clean energy per year from the 15 selected Tesco stores around the northern and central regions of Peninsular Malaysia, enabling Tesco Group to achieve its goal of becoming a zero-carbon business by 2050.

NEFIN Group CEO Glenn Lim said the company is proud to join forces with Petronas’ new energy unit, combining its extensive expertise and experience in RE.

“This includes the design and implementation of high safety and quality solar solutions to support multinational corporations to achieve their carbon neutrality goals,” he said.

Petronas’ new energy portfolio is set to grow further as the company is actively pursuing opportunities to expand the reach of its rooftop solar solutions to commercial and industrial sectors.

Currently, it has more than 650MW of solar projects that are operating and under construction in India and Dubai, and over 1GW of projects under development.

NEFIN Group is a regional solar developer with bespoke experience in solar system deployment to achieve carbon neutrality and do its part in the global efforts to fight against climate change, having deployed over 300MW solar projects regionally.

Amid the Covid-19 pandemic, NEFIN managed to complete several PV projects around Asia, including but not limited to, Bosch Automotive Aftermarket in Nanjing, China, the largest Bosch solar project globally and St Paul’s College, one of Hong Kong’s most recognised schools since its establishment in 1851.