Shah Alam, Selangor, Malaysia, 9 May 2024 – Global packaging manufacturer and leading property developer, Scientex Berhad, today announced a significant expansion of its renewable energy initiatives through a collaboration with Solarvest Holdings Berhad, a Malaysian-founded clean energy leader in Asia Pacific, to deploy a large-scale, approximately 21-megawatt peak (“MWp”) rooftop solar photovoltaic (“PV”) system project across the Group’s facilities in Malaysia.
Since 2022, Scientex has integrated renewable energy into its operations as part of its carbon footprint reduction initiative. Building on the success of its initial solar PV implementations at two manufacturing plants in Selangor and Perak, the Group is now scaling up its efforts.
Scientex will deploy solar PV systems across 10 key manufacturing plants nationwide and its headquarters in collaboration with solar energy solutions provider Solarvest. Scheduled to commence in May 2024 and by January 2025, the project is expected to generate enough renewable energy to offset approximately 14,000 tonnes of CO2 equivalent (tCO2e) annually.
By January 2025, more than 80% of Scientex’s manufacturing facilities in Malaysia will harness renewable energy with solar PV systems. Scientex is committed to expanding its renewable energy footprint and ultimately achieving full coverage across all facilities, driving a sustainable future for its operations.
“Scientex is making a major push in renewable energy with this nationwide solar project. Expanding our solar footprint across the majority of our manufacturing facilities reduces our carbon footprint by 14,000 tCO2e annually and solidifies our commitment to ESG leadership.
Furthermore, our initiatives are in line with our commitment to supporting our customers both locally and internationally in achieving their sustainability goals within the supply chain. Through these collaborative efforts, we are paving the way for a more sustainable future.” said Mr. Lim Peng Jin (林炳仁), CEO, Scientex Berhad.
“Scientex’s commitment to renewable energy sets a powerful example for the manufacturing sector, demonstrating how businesses can significantly reduce their environmental footprint in their value chain. This collaboration signifies the commitment of two Malaysia companies working together for a sustainable economy.
Main market listed issuers with financial years ending (FYE) on or after 31 December 2023 are obligated to disclose common sustainability matter on their 2024 reports and TCFD-aligned[1] disclosures for FYE on or after 31 December 2025. By transitioning to carbon-free RE solutions such as solar power, businesses can reduce their Scope 2 GHG emissions, which come from the electricity generated for their facilities.
Fuelled by Southeast Asia’s booming solar energy market, projected to reach 15.25 million MWh in 2024, Solarvest’s extensive geographical presence across the region uniquely positions it as the ideal regional clean energy partner for multinational corporations. Solarvest’s trajectory aligns perfectly with the National Energy Transition Roadmap’s goals, and it is poised to lead Southeast Asia as the regional renewable energy powerhouse.” said Mr. Davis Chong Chun Shiong (张俊雄), Executive Director and Group Chief Executive Officer, Solarvest Holdings Berhad.