China's XSD inks solar PPA with NEFIN to light up paper plant in Malaysia

XSD, NEFIN, Solarvest sign solar contract. Image by XSD.

October 27 (Renewables Now) - Chinese papermaker XSD International Paper Sdn Bhd on Tuesday said that it has signed a power purchase agreement (PPA) with NEFIN Group to secure 9.2 MW of solar for its planned paper factory in the Malaysian state of Kedah.

NEFIN, a solar project development, investment, and asset management company, is to install about 21,000 photovoltaic (PV) panels on the facilities that XSD will build at the Kulim Industrial Park in Padang Meha. The group will partner with Solarvest Holdings Berhad on  engineering, procurement and construction for the project.

The paper factory's solar power system is set to produce over 13.5 million kWh of electricity and save about 9,369 tonnes of carbon dioxide (CO2) emissions a year. The installation at the Kulim Industrial Park is expected to be completed by the third quarter of 2021.

XSD said it plans to invest MYR 35 million (USD 8.4m/EUR 7.1m) in a number of green initiatives in Malaysia, including this solar project.

(MYR 1.0 = USD 0.240/EUR 0.203)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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