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
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