NEFIN , Asia Pacific’s leading renewable energy producer, and MYDIN Malaysia partner to foster sustainable practices and responsible retail in Malaysia
- The partnership signifies the first-ever collaboration to conduct detailed energy audit and to boost the usage of clean energy at six MYDIN malls in the Southern region.
- This initiative represents a pioneering step for Mydin towards embracing renewable energy and reducing carbon emissions within the retail industry.
Kuala Lumpur, 7 November 2023 –NEFIN, one of Asia Pacific’s leading green independent power producers, and Mydin Mohamed Holdings Berhad (MYDIN), the largest Halal home-grown wholesale and retail chain in Malaysia, today announced a partnership in implementing carbon-neutral energy solutions and driving sustainability efforts in the retail industry. The partnership marks the first collaboration in the Southern region, engaging NEFIN to conduct the Detailed Energy Audit (DEA) and to install solar systems boosting the generation and usage of clean energy, showcasing a significant step towards a greener future within the retail industry.
The retail sector is one of the largest contributors to greenhouse gas emissions in Malaysia, accounting for 10% of the country’s total emissions. The industry is also a major consumer of energy, with electricity consumption accounting for 40% of the sector’s total energy use. With these increasing numbers, Malaysia has committed to achieving climate neutrality and cutting greenhouse gas (GHG) intensity against GDP by 45 percent by 2030 compared with 2005 levels. This partnership will help MYDIN to reduce its carbon emissions and energy consumption, while also setting a new standard for sustainable practices in the retail sector.
Datuk Wira (Dr) Haji Ameer Ali Mydin, Managing Director of MYDIN said, “We are thrilled to embark on this partnership with NEFIN. This collaboration perfectly aligns with MYDIN Prihatin #forfuture’s mission to promote sustainability and environmental responsibility. Our dedication to environmental conservation has always been a cornerstone of our values as a responsible retailer, and this partnership reaffirms our commitment to a more sustainable future.
Following the completion of Phase 1, MYDIN is excited to move forward with Phase 2 and we plan to expand the use of clean energy across all our mall locations. We are eagerly anticipating the outcomes of this partnership and the positive impact it will have on both our operations and the environment.”
Founded in 2014, NEFIN is a regional leader in supporting corporations in Asia Pacific decarbonise, with the aim of achieving carbon neutrality. On the other hand, MYDIN is widely recognized for the company’s steadfast commitment to environmental sustainability. In 2023, MYDIN continues to demonstrate its dedication to environmental conservation through various initiatives. These efforts include the Zero Bag Plastic campaign, energy-saving measures in management, the installation of electric vehicle (EV) charging stations, and the Recycle Clothing Garbage initiative.
Fostering sustainable ways in Malaysia’s retail sector by leveraging latest technologies
As part of this collaboration, NEFIN will propose the ideal Energy Efficiency solutions to Mydin with the energy audit report, particularly in the area of HVAC Retrofits/Chiller optimization.
NEFIN has also offered the latest technology in solar photovoltaic panels, specifically the N-type solar PV panels from Jinko Solar, the world’s leading solar panel brand, for all the MYDIN sites. The combined solar energy system capacity deployed across the six stores in Senawang (Negeri Sembilan) Pulau Sebang, Jasin, MITC (Melaka) Pelangi Indah (Johor) Senawang, and Taman Rinting (Johor) is expected to reach approximately 7.9MW. MYDIN is estimated to save RM71, 046,000 through this installation with a total generation of 286,746,066kWh of clean energy, equivalent to offsetting 199,002 tons of CO2 emissions over the system’s 30-year lifetime. This installation will be carried out by NEFIN’s EPC contractor partner, Total IFM, that has 20 years of experience in providing Integrated Engineering Services.
Chong Bor Hung, Managing Director of NEFIN SEA and Head of BD, stated, “Following our projects with hypermarket chains in Malaysia in the past 3 years, we are excited to expand our impact on this industry, to join forces with MYDIN in revolutionising the retailing industry through the implementation of carbon neutral solutions. By embracing renewable energy, MYDIN is spearheading a transformation that will not only reduce carbon emissions but also set a new standard for sustainable practices within the retail sector.
This partnership marks a leap towards creating a greener and more environmentally conscious future for the entire retailing industry which will contribute significantly to Malaysia’s sustainability goals. NEFIN is grateful that many of our clients trusted us to provide a broad range of services, like energy audit and RECs, to their multiple sites locally and even beyond Malaysia.”
As of 2023, NEFIN has successfully generated an impressive 200GWh of renewable energy. These efforts have resulted in offsetting around 118,800 tonnes of CO2 emissions, planting approximately 1,980,500 trees, and providing power to over 20,000 homes. Through the collaboration with MYDIN, NEFIN remains committed to pushing the boundaries of sustainability and serving as a catalyst for the retail industry to embrace a greener future.
About NEFIN
NEFIN is a premium green independent power producer (IPP) offering bespoke carbon neutral technologies & financing solutions in Asia Pacific. NEFIN, together with JV partner ACEN Corp., has worked with numerous multinational corporations and large local businesses, delivering renewable energy solutions at utility-scale, commercial and industrial levels. ACEN is listed in the Philippines (PSE: ACEN) and is part of the Ayala Corporation, one of the largest conglomerates in Philippines, founded by the Ayala family in 1834.
Leveraging its diverse, cross-functional team, NEFIN provides comprehensive energy efficiency assessments and a full-suite of services to evaluate the ESG impact and commercial viability of projects through innovative approaches to technology under its unified energy management platform.
With a mission of “Achieving Carbon Neutrality for You”, NEFIN is committed to the global climate goals and aims to accelerate the decarbonisation of our client portfolios. Recent advancements include NEFIN’s expansion to encompass battery storage solutions and the exploration of additional methods to offset carbon for our clients. NEFIN believes the future of the world is everyone’s responsibility and strives to redefine energy boundaries towards a sustainable future. Please refer to NEFIN’s website www.nefinco.com for more information and follow us at https://www.linkedin.com/company/nefin/.
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