LBS Bina secures 28.67MW solar power capacity from Energy Commission under CGPP

• The total quota of 800MW under CGPP has now been fully subscribed.

KUALA LUMPUR (Nov 10): Real estate developer LBS Bina Group Bhd has secured a solar power capacity of 28.67 megawatts (MW) under the Corporate Green Power Programme (CGPP) — a renewable energy initiative by the government that allows corporate consumers to virtually purchase solar energy from solar developers.

In a filing with Bursa Malaysia on Friday, LBS Bina said that its subsidiary Setara Armada Sdn Bhd, in collaboration with MWG Power Sdn Bhd and Ocean Solar Energy Sdn Bhd as a consortium, had been selected as the solar power producer under the CGPP by the Energy Commission (EC) for the development of a 28.67MW solar power plant.

The consortium is one of the successful solar power producers that was selected out of a total of 46 applications in the second batch of applications. The total quota of 800MW under CGPP has now been fully subscribed.

LBS Bina said the project is in line with the company's commitment to environmental, social, and governance (ESG) principles, and demonstrates its incorporation of eco-friendly practices into its core business operations.

"This significant accomplishment not only strengthens LBS Bina's position as a responsible corporate entity but also marks a substantial leap towards the company's broader goal of entering the renewable energy sector," it said.  

"Through the utilisation of 28.67MW of green power, LBS Bina is set to make a substantial contribution in reducing carbon emissions and play a central role in advocating clean energy efforts within the region," the group added.

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