UEM Lestra, ESR Group Sign Green Electricity Supply Deal Under CRESS - PETRA

PUTRAJAYA, Jan 16 (Bernama) -- UEM Lestra Bhd and ESR Group Ltd signed a green electricity supply agreement via third-party access under the Corporate Renewable Energy Supply Scheme (CRESS) today. 

In a statement today, the Ministry of Energy Transition and Water Transformation (PETRA) said that under the arrangement, UEM Lestra, as a renewable energy generator, will supply green electricity through the utility company’s grid system to ESR Group Ltd at an agreed rate and period.

PETRA said the exchange of documents for the green electricity supply deal was held during the launch of the MyEnergyStats Portal by the Energy Commission, witnessed by Deputy Prime Minister Datuk Seri Fadillah Yusof today. 

“The green electricity supply agreement between the two companies is one of the earliest to be successfully signed since the CRESS programme implementation on Sept 20, 2024. 

“Besides UEM Lestra and ESR Group, TNB Renewables Sdn Bhd also signed a green electricity supply agreement with Bridge Data Centre for the supply of 400 megawatts of green electricity supply through third-party access previously,” the ministry said.

It said CRESS represents the government’s initiative to provide options for and broaden access to green electricity supply to interested consumers of electricity, enabling corporate companies in Peninsular Malaysia to meet their environmental, social, and governance (ESG) commitments via the electricity supply aspect. 

The ministry said several improvements will be made to the current CRESS programme starting March 1, 2025, to strengthen its implementation and enhance access to green electricity supply.

"This includes opening the scheme to existing electricity consumers who wish to obtain green electricity supply directly from renewable energy generators and maintaining the set System Access Charge (CAS) for three years based on the regulatory period of the Incentive Based Regulation (IBR),” it said.

According to the statement, other improvements include setting the variation rate to the CAS value so that it does not exceed 15 per cent of the current value for each regulatory period to guarantee the cost of supplying green electricity under the initiative for the long term. 

“PETRA is confident that via these improvements, the CRESS programme will be able to attract the interest and confidence of more corporate companies to participate in gaining access to green electricity supply while fulfilling their respective ESG commitments,” it added. 

-- BERNAMA