by HIDAYATH HISHAM / pic source: MALAKOFF
MALAKOFF Corp Bhd has signed a memorandum of understanding (MoU) with ports under the MMC Group of Cos (MMC Ports) aiming to develop 500MW of solar projects worth RM2.5 billion over the next five years.
The MoU aims to explore potential through collaboration and undertakes business exploration in various green power initiatives worth RM350 million.
The MoU was exchanged between Malakoff MD and CEO Anwar Syahrin Abdul Ajib (third from right) and MMC Ports CEOs during the International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2023 today.
Under the Corporate Green Power Programme (CGPP), Malakoff will be the solar power producer while MMC Ports will be the corporate consumer of the renewable energy (RE) generated.
“This strategic collaboration represents our ambition and commitment to tackling global environmental issues by expanding our existing RE portfolio and exploring different areas of green initiatives through comprehensive and innovative solutions,” Anwar said.
Malakoff will also serve as the developer of rooftop solar systems for MMC Ports under the Self-Consumption (SelCo) programme, undertaking system installation, operation and maintenance.
The companies are also exploring opportunities in the large-scale solar (LSS) programme and implementation of cold ironing or shore-to-ship power supply solutions at ports to reduce emissions.
“Our readily available landbank in Perak and Melaka that are located close to the grid lines, serves as evidence of our capacity, which would subsequently enable potential off-takers, especially within the Albukhary Group, to develop solar projects,” Anwar added.
The exchange was witnessed by Deputy Natural Resources Environment and Climate Change (NRECC) Minister Datuk Seri Huang Tiong Sii and Malakoff’s Executive Vice chairman Tan Sri Che Khalib Mohamad Noh.
The collaboration aligns with Malaysia’s aim to achieve 70% renewable energy in its generation mix by 2050 and supports Malakoff’s target of reaching 1,400MW renewable capacity by 2031.
To date, Malakoff has gained 67 MW of total solar installed capacity through LSS and rooftop solar, and a promising 84 MW of hydropower capacity that is steadily progressing towards completion.