Selangor, 14 August 2024 – Solarvest Holdings Berhad (“Solarvest”) and NCT Group of Companies (“NCT Group”) are excited to announce the commencement of Phase One of their joint development project at the NCT Smart Industrial Park (NSIP), consisting of over 270 factories.
This will be the first solar-ready industrial park in the region, marking a significant milestone for the establishment of sustainable industrial infrastructure in Malaysia. In partnership with NCT Group, Solarvest offers a streamlined approach to promote solar adoption with aims to make clean energy more feasible, affordable, and attractive to business owners. This innovative solution eliminates the complexities of individual solar procurement beforehand, simplifying the decision-making process for business owners to adopt clean energy, leading to significant cost savings.
“We are confident this approach will significantly accelerate the adoption of solar energy in factories across Malaysia,” said Dato’ Sri Yap Ngan Choy, Founder and Group Managing Director of NCT Group. “We are excited to equip our smart industrial park with solar capabilities. As the largest solar developer in Malaysia, Solarvest brings unparalleled bankability, robust financial capabilities and an impressive project track record, making them the ideal partner for the success of NSIP.
Davis Chong, executive Director and Group CEO of Solarvest says, ” The Developer model is a game-changer for accelerating the energy transition towards achieving net-zero for the commercial and industrial sectors. By integrating solar system into the industrial infrastructure at the development stage, we reduce Scope 2 emission from the very beginning of the supply chain. This is an effective strategy to reduce carbon footprints at a larger scale, and it aligned perfectly with our mission in making clean energy solutions reliable, accessible, and affordable for all.”
Upon completion of the development, the installation process of solar PV system is expected to take approximately six (6) to eight (8) months for each factory, projecting a promising timeline for the establishment of a low-carbon industrial park. These factories are expected to install solar PV system with total capacity of 36,000kWp, which will be offsetting up to approximate 25,515 tonne carbon emission annually.
“We look forward to embarking on this journey with Solarvest,” added Dato Sri Yap Ngan Choy. “Our collaboration represents a pivotal stride towards achieving our vision of becoming the nation’s first net-zero emissions industrial park by 2050. As pioneers of the AI-Low Carbon Industrial Park framework, we are proud to lead the way in innovation and set new benchmarks for future industrial developments.”
NSIP is a reflection of the strong collaborative efforts between Solarvest and NCT Group to promote solar energy. In addition to the development of solar-ready factories, the MOU encompasses the provision of decarbonisation services to NCT Group’s local facilities. The joint development plan includes exploring potential areas for further collaboration in renewable energy, such as bioenergy, hydrogen, energy efficiency, and electric mobility.