Meta Bright secures sustainability-driven solar PV zero capex deal from Best Fresh Mart
PROPERTY and hospitality-centric Meta Bright Group Bhd (formerly Eastland Equity Bhd) has sealed a deal with Best Fresh Mart Sdn Bhd to develop and operate Solar PV Zero Capex projects at the latter’s retail outlets in Kapar (Selangor) and Bukit Rambai Putra (Melaka).
Under the inked agreements, Meta Bright’s wholly-owned subsidiary FBO Land (Serendah) Sdn Bhd will design, finance, construct, install and maintain solar photovoltaic (PV) systems at Best Fresh Mart’s premises with a total installation capacity of approximately 345.64 kilowatt-peak (kWp).
This is, however, subject to final confirmation from regulatory authorities, including Tenaga Nasional Bhd (TNB), Sustainable Energy Development Authority Malaysia (SEDA) and the Energy Commission (ST).
The projects will operate under the Net Energy Metering (NEM) scheme with Best Fresh Mart agreeing to purchase the renewable energy (RE) generated at a discounted solar tariff rate for a term of 10 years.
As a growing retail chain known for its wide range of value-driven products, Best Fresh Mart stands to benefit from reduced electricity costs and enhanced sustainability through solar adoption.
In fact, the said solar PV installations align with Best Fresh Mart’s broader expansion strategy and commitment to environmentally responsible operations.
This initiative was recently highlighted by Deputy Prime Minister and Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof who graced the opening of Best Fresh Mart’s Kapar outlet while stressing its alignment with Malaysia’s commitment towards increasing RE capacity and sustainable business practices.
Meta Bright Group Bhd’s executive director (corporate and strategic planning) Derek Phang Kiew Lim
“Having successfully delivered energy efficiency projects in the past, we have built a solid foundation of trust,” commented Meta Bright’s executive director (corporate and strategic planning) Derek Phang Kiew Lim.
“Best Fresh Mart’s green initiatives align well with our own sustainability goals and as they continue their rapid expansion, we are prepared to grow alongside them by delivering sustainable and cost-effective energy solutions.”
This solar PV zero capex project will be the first of many solar projects to be undertaken with Best Fresh Mart which is currently in an expansion phase with long-term plan of making sustainability a core part of its growth trajectory.
Meanwhile, Meta Bright’s RE arm has continued to grow steadily to support the group’s diversified portfolio which includes property development, hospitality, investment properties, leasing and financing, and concrete supply.
At the close of today’s (April 17) market trading, Meta Bright was unchanged at 12 sen with 76,800 shares traded, thus valuing the company at RM304 mil. – April 17, 2025