Wednesday, July 10, 2024

IJM Land, Progressture Solar to explore opportunities

KUALA LUMPUR: IJM Land Bhd has signed a memorandum of understanding (MoU) with Progressture Power Sdn Bhd (Progressture Solar), a net-zero partner and clean energy provider, to jointly explore business opportunities in maximising deployment for a total capacity of 40 MWp solar energy in IJM Land’s future developments.

The scope of the partnership encompasses the pre-installation of solar rooftop PV systems with a capacity of 25 MWp for residential developments, along with the options for enabling homeowners to benefit from this implementation besides the development of a 15 MWp floating solar farm spanning 37.5 acres at IJM Rimbayu. Cumulatively, this solar deployment is projected to reduce 40,997 tonnes of carbon dioxide each year and over 1 million tonnes in the next 25 years.

CEO Datuk Wong Tuck Wai said that this intersection of real estate and renewable energy (RE) allows them to tap into new growth areas in the property industry.

“As we move in tandem with the roll-out of the National Energy Transition Roadmap (NETR), there is a greater recognition of the essential role consumers have in shaping our energy future. With IJM Land’s continued commitment to best facilitate homeownership for our customers, we are leveraging on our cross-industry strengths for the implementation of RE infrastructure and solutions,” he added.

Meanwhile, COO Datuk Tony Ling Thou Lung said that their current efforts validate solar as a viable source of RE, and to this effect, the solar deployment is a core component of their pilot project.

“We aim to maximise the use of IJM Land’s residential rooftop space and lake surface area in addressing solar adoption barriers such as space constraints and high capital costs. This is to ensure inclusivity towards our customers and their priorities, especially in the face of energy transition,” he added.

Progressture Solar co-founder and CEO Cliff Siaw Sze Hau said they are happy to collaborate with IJM Land to shape the future of sustainable urban development and accelerate the energy transition.

As an end-to-end solar PV solution and service provider, he added that they play a dynamic role in the integration of RE best practices for the real estate sector.

“We aim to strengthen this industry-wide movement by employing technologies that support advanced solar PV systems and optimised energy yields,” he said.

“This partnership directly supports Malaysia’s goal of achieving a 40% renewable energy mix by 2035. It is a testament to our commitment to advancing RE solutions, highlighting the crucial role that clean energy plays within the real estate sector. As a leading clean energy provider in Malaysia, we are excited to partner with IJM Land on this transformative venture,“ stated co-founder and COO Ng Yew Weng.

As part of the collaboration, IJM Land and Progressture Solar will be utilising the Energy-as-a-Service (EaaS) approach that will provide end-to-end management of energy assets and services for homeowners in IJM Land’s townships. Applied with high feasibility across a wide variety of sectors, the global EaaS market is estimated to reach RM693.21 billion by 2029.

The partnership is set to be operationalised in line with the implementation of the Third-Party Access for the nation’s electricity supply industry, which will enable other parties such as independent power producers to supply energy using Tenaga Nasional Bhd’s (TNB) transmission lines.

Source: The Sun Daily

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