Meta Bright unit to develop solar PV zero capex projects at Best Fresh Mart outlets

KUALA LUMPUR: Meta Bright Group Bhd via its wholly-owned subsidiary FBO Land (Serendah) Sdn Bhd has inked agreements with Best Fresh Mart Sdn Bhd to develop and operate solar PV zero capex projects at the latter company's retail outlets in Kapar, Selangor, and Bukit Rambai Putra, Melaka.

It said in a statement FBO Land will design, finance, construct, install, and maintain solar photovoltaic (PV) systems at Best Fresh Mart's premises with a total installation capacity of about 345.64 kilowatt-peak, subject to confirmation from regulatory authorities.

The projects will operate under the Net Energy Metering (NEM) scheme.

Best Fresh Mart has agreed to purchase the renewable energy generated at a discounted solar tariff rate for a term of 10 years offering substantial long-term cost savings while reducing carbon emissions.

"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," said Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim.