SUBANG, Nov 1 — Malakoff Corporation Bhd, through its subsidiary Malakoff Radiance Sdn Bhd, is accelerating its energy transition initiatives following the solar power purchase agreement it inked with DRB-Hicom group of companies for RM50 million.

The agreement signed is for the development, operation and maintenance of solar photovoltaic systems at 14 locations in Selangor, Perak, Kedah, Melaka and Pahang.

"With a total capacity of 20.78 megawatt (MW) and total electricity generation of 26,546.45 MW per hour per annum, this project is expected to play a pivotal role in making a substantial contribution to an annual reduction of 20,706 tonnes of carbon dioxide equivalent (tCO2e) to a carbon sequestration of 23,204.56 acres of forest, offsetting Co2 from the atmosphere,” Malakoff managing director and chief executive officer Anwar Syahrin Abdul Ajib said after the exchange of agreements between Malakoff Radiance and DRB-Hicom here today.

Anwar also said DRB-Hicom is happy with what Malakoff Corp’s solar arm had installed so far.

He added that the company can save a minimum 30 to 40 per cent in electricity bill.

He said the 25-year agreement with DRB-Hicom is part of the group’s 10-year strategic transformation plan to be a more sustainably conscious organisation where emphasis will be put on renewable energy (RE), environmental solutions and water desalination projects, underlined by its operational transformation and international expansion.

"Of course, we are very opportunistic in terms of our overseas expansion and that is not limited to just solar,” he said.

Anwar said Malakoff’s water production capacity remains top 5 in Middle East countries with 472,975 cubic metres of water produced a day.

The group plans to achieve RE capacity of 1,400 MW by 2031. Its RE efforts support the government’s National Energy Transition Roadmap. — Bernama