KUALA LUMPUR – Jentayu Sustainables Bhd (Jentayu) has secured a solar power purchase deal under a self-consumption scheme with Outspan Malaysia Sdn Bhd (Outspan Malaysia) valued at RM5 million.
In a statement, today, Jentayu stated that Outspan Malaysia currently operates a daily processing plant which produces fat-filled milk powder and dairy products at the Tg Pelepas Free Zone port in Johor.
Outspan Malaysia is a subsidiary of Olam International Ltd based in Singapore.
The company further stated that the agreement is for a 20-year contract tenure at a pre-agreed fixed tariff and would allow Outspan Malaysia to purchase electricity at a lower-than-grid rate, giving them around 10% in savings over the contract’s period.
“There will be zero investments or capital expenditure required from Outspan and all related rooftop solar photovoltaic (PV) systems and installation costs will be borne by Jentayu.”
Jentayu executive chairman Datuk Beroz Nikmal Mirdin said the agreement with Outspan serves as part of Jentayu’s business expansion plan and subsequently addresses Olam Group’s net-zero aspiration and needs towards transitioning into using sustainable and cleaner energy.
“The deal also aimed to identify more regional synergistic opportunities and possibilities that transcend beyond solar PV systems such as renewable energy certificate and carbon credit acquisitions, carbon-related audit and consultations.
“We remain steadfast in our pursuit to become a leading sustainable energy player, building from strength to strength, hinging on sustainability as our focal point in all that we do,” he added.
Jentayu, formerly known as Ipmuda Bhd has evolved from being the premier supplier of customised building solutions to a sustainable high-performing organisation, involved in key growth sectors namely renewable energy, healthcare and trading.
Since its inception in 1975 and the ensuing listing on the main board of the Kuala Lumpur Stock Exchange or Bursa in 1993, Jentayu has undergone a comprehensive transformation to inject vigour into its journey of continuous and sustainable growth.
Leveraging on its strong fundamentals, Jentayu has expanded its stable of assets and operations to include renewable energy and healthcare through its solar and hydro plants as well as a private healthcare facility. – The Vibes, October 7, 2022
