PGB, Solarvest to develop green industrial township in Johor
02 Feb 2024
Property developer Paragon Globe Bhd (PGB) and Solarvest Holdings Bhd are planning to develop a solar-ready factory and green industrial township in Johor.
Upon completion, the project is anticipated to yield some 12.5-megawatt peak (MWp) in total renewable energy capacity, making it one of Johor’s most energy-efficient industrial townships, said the companies in a joint statement today.
“We are keen for the project to attract additional foreign direct investment (FDI) into the state, which saw a total of RM70.6 billion FDI in 2022, the highest among all the states,” said PGB executive chairman Datuk Seri Edwin Tan Pei Seng.
Solarvest will be financing the project through its Powervest solar financing programme, which will enable PGB to adopt the solutions with zero initial capital outlays.
These include a combination of commercial and industrial, end-use energy, and electric vehicle charging facilities.
The statement noted that PGB has approximately 57.06 hectares of green industrial development, one of the largest in the state, complementing the vision of Yang di-Pertuan Agong Sultan Ibrahim Sultan Iskandar of Johor to make the state a major player in the solar and renewable energy space.
The project is also aligned with the state’s sustainable development and renewable energy aspirations, as espoused in the Johor Smart City Blueprint 2030, and is expected to provide significant economic benefits to the state.
Source: Bernama
