BCX, UEM Lestra ink energy supply deal
The BESC auction, set to launch on BCX, will allow corporates to bid for green electricity from UEM Lestra's large-scale hybrid solar photovoltaic projects, based on their respective demand.
It is the first auction to be conducted under the CRESS framework, a government initiative aimed at improving corporate access to renewable electricity through third-party access to the national grid in Peninsular Malaysia.
Under the collaboration, BCX will provide its auction-as-a-service platform to facilitate an open and competitive bidding process. The auction aims to promote transparent price discovery for solar electricity and enable participating companies or prospective offtakers to enter into BESCs with UEM Lestra. Trading ideas: TNB, Bursa, HI Mobility, KIP REIT, UUE, Pestec, Jati Tinggit, SL Innovation, SC Estate, Majuperak, Oasis, Pavilion REIT
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