HG Metal to go 70% solar

The switch to solar is expected to result in cost-savings up to $3.1m for the project duration of 20 years.

HG Metal is set to use solar energy in one of their buildings, which could account for the 60% to 70% of the company’s annual energy consumption requirements.

In a press statement, steel distributor HG Metal Manufacturing announced they entered into a power purchase agreement with independent power company Lys Energy to build and operate a rooftop grid-tiered solar photovoltaic (PV) system on its 28 Jalan Buroh premises.

The switch to solar is expected to result in cost-savings up to $3.1m for the project duration of 20 years.

“This initiative will allow HG to not only enjoy cost savings but also reduce the carbon footprint of our existing business operations, creating a win-win situation for all the stakeholders involved,” said HG Metal CEO Shin Taeyang.

The 936.84kWp solar power plant is expected to be completed by the the third quarter of the financial year.

It is estimated to achieve an average annual output of 1,031.5MwH over the next 20 years.

The solar PV system will also be registered under Energy Market Authority (EMA) scheme’s Enhanced Central Intermediary Scheme (“ECIS”), to enable the export of the unconsumed excess of energy produced by the PV system into the national electricity grid.