Meta Bright Group Berhad (MBGB) proudly announces the achievement of Commercial Operation Date (COD) on March 21, 2024, for its solar project in collaboration with Sinergi Perdana Sdn Bhd (SPSB), a subsidiary of the Rubber Industry Smallholders Development Authority (RISDA) under the Ministry of Rural and Regional Development.
The solar project, developed by MBGB’s wholly-owned subsidiary FBO Land (Setapak) Sdn. Bhd. (FBO), boasts a capacity of up to 401.76 kWp. This initiative forms part of a 21-year renewable energy supply agreement, offering SPSB a 20% discount on prevailing Tenaga Nasional Berhad (TNB) tariff rates, complemented by Imbalance Cost Pass-Through (ICPT). Expected to mitigate approximately 380.81 tonnes of CO2 emissions annually, this project significantly contributes to environmental sustainability by reducing carbon footprints, combating climate change, and advocating cleaner energy alternatives.
Besides the successful implementation of the Sinergi Perdana project, MBGB actively pursues new opportunities in the renewable energy sector. Currently exploring projects in the Commercial & Industry (C&I) segment valued at approximately RM34.7 million, MBGB reports completed installations totaling around RM3.55 million, with ongoing projects valued at approximately RM11.89 million.
The commencement of commercial operation for this project anticipates sustainable earnings income for MBGB, fostering positive contributions to the group’s long-term financial stability. Furthermore, the project aims to mitigate a significant volume of CO2 emissions, reaffirming the company’s commitment to clean energy and a greener, sustainable future.
Mr. Derek Phang Kiew Lim, Executive Director of Corporate & Strategic Planning at Meta Bright, emphasizes, “The successful installation completion for the solar project with Sinergi Perdana signifies a significant milestone in our sustainability journey. This project not only reflects our dedication to renewable energy but also aligns with the Malaysian government’s initiatives promoting clean energy solutions. We are enthusiastic about the positive impacts this project will deliver for our earnings and the environment.”
SPSB’s acceptance of the solar program underscores the trust in MBGB’s ability to deliver mutually beneficial and sustainable renewable energy solutions. The company remains optimistic about expanding participation in its Solar PV Zero Capex Program with other Malaysian enterprises, showcasing its capacity to contribute to sound Environmental, Social, and Governance (ESG) practices.
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