Solarvest Holdings Berhad, an expert in clean energy solutions, has secured a new contract with Toyo Tyre Malaysia Sdn Bhd to install a cutting-edge 14-megawatt-peak rooftop solar photovoltaic system at Toyo Tyre’s tyre manufacturing facility in Kamunting, Perak. This installation is set to become the largest of its kind in the region.
Within the framework of this agreement, Solarvest Holdings Berhad will oversee the entire project, encompassing engineering, procurement, construction, and commissioning works for the solar PV system. The system will be strategically placed across the main building’s facilities, covering an extensive rooftop area spanning 96,000 square metres. Anticipated to generate a remarkable 14 megawatts-peak of clean energy, this initiative will enable Toyo Tyre Malaysia Sdn Bhd to offset a substantial 12,195 tonnes of carbon dioxide emissions on an annual basis.
Datuk Wira Arham Abdul Rahman, the Chief Executive Officer of Malaysian Investment Development Authority, highlighted the strong dedication of TTM in maintaining sustainable operations. He emphasised, “As the world transitions to a low-carbon future and a greener economy, MIDA is taking steps to help businesses overcome the challenges and capture the opportunities on the green transition. We applaud TTM’s RE100 initiatives, which underscore their firm commitment to Environment, Social and Governance principles within their corporate framework by collaborating with Solarvest to establish a rooftop solar PV system. This commitment aligns with our National Investment Aspirations and the New Investment Policy, as well as the recently announced National Energy Transition Roadmap which are crucial in nurturing sustainable growth and forging a greener future for Malaysia and rakyat.”
Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong said, “We are delighted to have been chosen by TTM to undertake this project and appreciate the confidence they have placed in our technical expertise. With our knowledge and experience, we are confident in our ability to assist TTM in achieving optimal energy efficiency for the plant while ensuring timely project completion.”
“There is a growing interest in clean energy adoption, especially among commercial and industrial (“C&I”) players as corporate sustainability initiatives gain momentum and in anticipation of carbon pricing mechanisms. Our job pipeline remains strong with a tender book of approximately 2.2 gigawatts (“GW”) comprising large-scale power plants, C&I, and overseas projects. As a decarbonisation partner, Solarvest is committed to promoting energy transition through efficient renewable energy solutions and innovative green technologies” Mr. Davis concluded.
Following the Malaysian government’s commitment to encouraging energy efficiency and renewable energy transition, the allowable capacity for solar PV systems under the Net Energy Metring (“NEM”) and Self-Consumption for Solar PV Installation (“SelCo”) programmes had raised from 75% to 85% of maximum demand. TTM’s sustainability initiative is commendable as one of the first companies to adopt this new capacity limit, leading to the development of one of Perak’s largest rooftop solar PV systems.