KUALA LUMPUR (April 17): Meta Bright Group Bhd (KL:MBRIGHT) said it has secured a contract to install and operate solar PV systems at two retail outlets of Best Fresh Mart Sdn Bhd under a zero capital expenditure (capex) arrangement.

The group will operate the solar PV systems on the supermarket operator’s premises in Kapar, Selangor, and Bukit Rambai Putra, Melaka, at its own cost under the Net Energy Metering scheme, said Meta Bright in a filing with Bursa Malaysia on Thursday.

The installations are expected to have a combined capacity of 345.64 kilowatt-peak (kWp), subject to final approvals by Tenaga Nasional Bhd (KL:TENAGA), the Sustainable Energy Development Authority, and the Energy Commission.

Under the terms, Best Fresh Mart will purchase the electricity generated from the systems at a discounted solar tariff over a 10-year period.

"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.” Meta Bright’s executive director of corporate and strategic planning Derek Phang Kiew Lim said in a statement.

"The agreements with Best Fresh Mart mark another step forward for our renewable energy business. These solar PV zero capex projects allow businesses to transition to clean energy without upfront capital. We look forward to partnering with more companies to expand sustainable energy adoption in Malaysia," he added.

Meta Bright said it expects the project to be the first of several solar ventures with Best Fresh Mart. It noted that the installation sites are part of Best Fresh Mart’s wider expansion efforts, with sustainability measures incorporated into its operational strategy.

At Thursday's market close, Meta Bright shares were unchanged at 12 sen, with a market capitalisation of RM303.76 million.