Sun. Jun 23rd, 2024

    Malakoff Corporation Berhad (“Malakoff”) has inked a Memorandum of Understanding (“MoU”) with ports under the MMC Group of Companies (“MMC Ports”), namely Northport (Malaysia) Bhd, Johor Port Berhad, Tanjung Pelepas Sdn Bhd and Penang Port Sdn Bhd to explore the collective potential through collaboration and to undertake business exploration in various green power initiatives including, but not limited to, any solar power programme under the Government’s initiatives such as the Corporate Green Power Programme (“CGPP”), Self-Consumption (“SelCo”), cold ironing or shore-to-ship power supply, installation of Electric Vehicle (“EV”) charging stations and others, where collectively referred to as the “Green Power Projects”.

    An exchange of documents containing the MoU was held during the International Greentech & Eco Products Exhibition and Conference Malaysia (“IGEM”) 2023 at the Kuala Lumpur Convention Center between Malakoff’s Managing Director/Chief Executive Officer (“MD/CEO”) Encik Anwar Syahrin Abdul Ajib and the MMC Ports’ CEOs. The exchange was witnessed by Deputy Minister of Natural Resources Environment and Climate Change (“NRECC”) YB Dato’ Sri Huang Tiong Sii and Malakoff’s Executive Vice Chairman Tan Sri Che Khalib Mohamad Noh.

    Through this MoU, Malakoff and MMC Ports are set to embark on a transformative partnershipwithin the CGPP where Malakoff will assume the pivotal role of a solar power producer and MMC Ports will serve as the esteemed corporate consumer. This strategic collaboration paves the way for MMC Ports to tap into Renewable Energy (“RE”) through a virtual acquisition of solar power. This initiative reflects the joint commitment of Malakoff and MMC Ports to spearhead the development of 500 MW of solar projects within the Albukhary Group of Companies.

    Additionally, under the SelCo rooftop solar programme, Malakoff will serve as the developer for the end-user, MMC Ports, where installation, operation and maintenance of the solar photovoltaic (“PV”) system to be expertly managed by Malakoff.

    Furthermore, in line with the Government’s aim to achieve a 70% RE capacity mix by 2050 Malakoff and MMC Ports are actively exploring opportunities for collaboration within the Large Scale Solar (“LSS”) programme. Additionally, they are considering the implementation of cold ironing or shore-to-ship power supply solutions. Cold ironing or shore-to-ship power supply is the process of providing electricity to the ship at berth, during which, the engines are shut down, significantly reducing greenhouse gas emissions and air pollution.

    Malakoff’s MD/CEO Encik Anwar Syahrin Abdul Ajib welcomes the Government’s recent announcement of the National Energy Transition Roadmap (“NETR”) that not only outlines clear policies for utility companies such as Malakoff to further leverage its expertise onto the RE space, but it will substantially boost the country’s economic growth.

    “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. To date, our achievements encompass 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. Ourreadily 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 offtakers, especially within the Albukhary Group, to develop solar projects. Moreover, we are also exploring energy exports to the neighbouring countries, such as Singapore”.

    “As Malakoff strives to be the leading global energy generation and environmental solutions player, we have set an ambitious target of our own – reaching an RE capacity of 1,400 MW by the year 2031 and achieving a 15% to 20% of recycling rate by 2025 from waste collected by our wholly-owned subsidiary, Alam Flora Sdn Bhd – which demonstrates our unwavering dedication to sustainability”.

    In our pursuit of a cleaner and greener world, this MoU is part of Malakoff’s commitment towards UN Sustainable Development Goal No. 7 – Affordable and Clean Energy which focuses on ensuring access to affordable, reliable and sustainable energy for all.

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