11 JUNE, SELANGOR – KIPMall is committed as part of the “go green” community to provide sustainable solution by installing Solar Photovoltaic Systems (PV) for electricity to be generated at a lower tariff and allowing a reduction in carbon footprint. KIPMall Kota Warisan, a two-story mall that opened in October 2017 houses specialty tenants such as Econsave, KFC, Boat Noodle, The Chicken Rice Shop, Teh Tarik Place, Secret Recipe, Tealive, Cool Blog, Happy Lemon, MyeongDong Topokki, Mr DIY, Mr. Dollar, Watsons, Health Lane, MNB Fashion, XES Shoes and many more.
Following the successful implementation of the Solar PV system of 2.73MWp by Pekat Solar Sdn Bhd at six KIPMalls nationwide, KIPMall Kota Warisan has joined the growing list of malls in harnessing clean energy and most importantly to set an example for the rest of the community to follow. The mall’s 957 kilowatt-peak (kWp) Photovoltaic installation of solar panels spans 59,683.26 square feet of roof area powering the entire electrical system which houses 131 tenants with a total Gross Floor Area (GFA) of 296,588 square feet.
This system is able to produce up to 1,237.09 Megawatt-hour (MWh) of clean energy annually that is the equivalent to saving 119 trees per year, powering energy for 137 household of four per year, and Carbon dioxide (CO2) savings at 866 tonnes per year. The total of energy savings was calculated to be at 106 per cent per annum, according to Mr. Chin, Managing Director of Pekat Group of Companies.
Ms. Valerie Ong, Group Chief Executive Officer of KIP Group quoted today, “Renewable energy is the future. In KIP, we believe strongly in ESG and have begun the initiative of installing solar photovoltaic systems on the roofs of our shopping malls many years prior as it will help to provide reliable power supply, reduce greenhouse gas emissions by edging out fossil fuels, minimize air pollution and expand access to energy”.
Ong further added, “Sustainability is the key to the success of business growth and therefore keeping our operational cost low is important. By installing these PV systems, we are able to save approximately 30-40% from electricity bills. Furthermore, the group is also proactively exploring other cleaner energy solutions thereby providing a better environment to our tenants and shoppers”.
The Government is looking to boost green energy trading with the private sectors and aim to launch a Renewable Energy Transition Roadmap by 2035. In line with its Generation Development Plan 2020-2030, the aim is to boost the country’s share of renewables in the power mix to 20 per cent by 2025. Various incentives were introduced, intended to spur the acceptance of renewable energy technology in Malaysia. For instance, the Green Technology Financing Scheme 2.0 (GTFS) allows companies to apply for financing from banks, with the government guaranteeing 6 per cent of the amount and providing a 2 per cent rebate on the interest or profit rate charged.
Due to overwhelming response from the PV industry, the Energy and Natural Resources Minister has introduced the new Net Energy Metering (NEM 3.0) in December 2020 to offer more opportunities to electrical consumers to install solar PV systems on the roofs of their premises to save a large amount on their electricity bill. The NEM 3.0 will be in effect from 2021 to 2023 and thus the total quota allocation is up to 500 MW.