Nippon Electric Glass (Malaysia) Sdn. Bhd. , a subsidiary of Nippon Electric Glass Co., Ltd., has entered into a Virtual Power Purchase Agreement (VPPA)*1 with Res Hijau Sdn. Bhd., a special purpose company of Ditrolic Energy Holdings Sdn. Bhd.*2 (Head office: Johor Bahru, Johor, Malaysia; Group Chief Executive Officer: Mr. Tham Chee Aun), a renewable energy power generation company.
A VPPA is a means for consumers to virtually procure only the environmental value*3 of renewable energy electricity generated off-site, and in Malaysia it can only be implemented by companies approved under the Corporate Green Power Programme (CGPP*4 ), a program launched by the government in 2023. NEGM will procure the environmental value derived from Ditrolic Energy's new solar power plant in the northern Malaysia Peninsula, which will effectively reduce CO₂ by approximately 41,000t-CO₂ per year.
Managing director Kubo said, "NEGM is honored to collaborate with Ditrolic Energy on this project in Malaysia, a country that has introduced various policies toward decarbonization. This project is also an important and significant step forward for NEG groupʼs commitment to carbon neutrality." To achieve carbon neutrality by 2050, NEG Group has prepared an action plan for reducing CO2 emissions and is promoting various initiatives. The conclusion of this VPPA is part of those efforts. The group will continue to expand the use of all-electric melting to more products and promote the development of technologies that contribute to carbon neutrality, as well as help prevent global warming by procuring renewable electricity and obtaining environmental values both internally and externally.
Overview
1. Power plant type: Solar power generation
2. Planned power plant sites: Kedah, Malaysia
3. Scheduled start of power generation: December 2025
4. Contract period: 20 years
5. Annual power generation forecast: Approx. 75 GWh (equivalent to the annual electricity consumption of approx. 18,000 general households)
08.08.2024, Nippon Electric Glass
News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.