Solarvest Holdings Berhad and NCT Group of Companies announce the commencement of Phase One of their joint development project at the NCT Smart Industrial Park (NSIP), consisting of over 270 factories.

This will be the first solar-ready industrial park in the region, marking a significant milestone for the establishment of sustainable industrial infrastructure in Malaysia. In partnership with NCT Group, Solarvest offers a streamlined approach to promote solar adoption with aims to make clean energy more feasible, affordable, and attractive to business owners.

As the developer of NSIP, Malaysia's First Certified Managed Industrial Park (MIP), NCT Group said it leverages on bulk purchasing for solar system, resulting in significant cost savings for factory owners. This approach eliminates the complexities of individual solar procurement beforehand, simplifying the decision-making process for business owners to adopt clean energy.

"We are confident this approach will significantly accelerate the adoption of solar energy in factories across Malaysia," said Dato' Sri Yap Ngan Choy, Founder and Group Managing Director of NCT Group. "We are excited to equip our smart industrial park with solar capabilities. As the largest solar developer in Malaysia, Solarvest brings unparalleled bankability, robust financial capabilities and an impressive project track record, making them the ideal partner for the success of NSIP.

Upon completion of the development, the installation process of solar PV system is expected to take approximately six (6) to eight (8) months for each factory, projecting a promising timeline for the establishment of a low-carbon industrial park. These factories are expected to install solar PV system with total capacity of 36,000kWp, which will be offsetting up to approximate 25,515 tonnecarbon emission annually.

In addition to the development of solar-ready factories, the MOU encompasses the provision of decarbonisation services to NCT Group's local facilities. The joint development plan includes exploring potential areas for further collaboration in renewable energy, such as bioenergy, hydrogen, energy efficiency, and electric mobility.