Latest news with #LEGA
The Star
29-04-2025
- Business
- The Star
Sime Darby Property leads nation's first community solar rollout under NETR with TNB
Solar generation via leasing of rooftops from residential homes will be channelled to green consumers of nearby commercial and industrial properties, commencing with the City of Elmina. PETALING JAYA: Sime Darby Property in collaboration with Tenaga Nasional Bhd (TNB), has become the first company in Malaysia to harness the power of solar energy under the country's National Energy Transition Roadmap (NETR) via Malaysia's inaugural Community Renewable Energy Aggregation Mechanism (CREAM) initiative. This initiative is part of the government's recently launched CREAM framework, introduced by the Energy Transition and Water Transformation Ministry (PETRA) in March 2025, to empower community-based renewable energy generation and promote wider access to green electricity through Local Energy Generators and Aggregators (LEGA). Sime Darby Property's group managing director and chief executive officer Datuk Seri Azmir Merican said, 'Our participation in the CREAM initiative with TNB introduces a practical and scalable model to unlock solar generation capacity from within our townships. 'By leasing roof spaces from residential properties, without requiring homeowners to install panels, we enable clean energy generation that supports our nearby commercial and industrial developments. 'This approach complements our broader decarbonisation strategy, aligns with national energy objectives, and directly contributes to our emissions reduction targets.' Azmir said participation in the CREAM initiative with TNB introduces a practical and scalable model to unlock solar generation capacity from within Sime Darby Property's townships. By becoming the nation's first LEGA under the CREAM policy, Sime Darby Property underscores its commitment to inclusive, sustainable development in support of Petra's vision and the national renewable energy goals. The company has committed to reducing Scope 1 and 2 emissions by 40% by 2030 and achieving net zero carbon emissions by 2050. Working with TNB's solar subsidiary GSPARX Sdn Bhd, Sime Darby Property will enter into lease agreements with residential homeowners interested in participating in this programme, starting with those in the City of Elmina. Rooftops of participating homes will be utilised to generate electricity, which will be exported via the local distribution line within a 5km radius for use at Sime Darby Property's commercial and industrial developments. This streamlined approach not only reflects the renewable energy efforts by the company but also supports the country's agenda to transition to green energy sustainably and efficiently. The CREAM mechanism enables Local Green Consumers (LGC) such as businesses and commercial users to source electricity from LEGA participants through TNB's distribution network. It allows homeowners to lease rooftops to third parties who manage and aggregate these spaces into efficient solar photovoltaic power systems. This collaboration represents a tangible model for grassroots participation in clean energy and public-private synergy. The latest collaboration between the two parties comes on the heels of a joint venture established by Sime Darby Property and TNB's GSPARX in July 2024, focusing on financing, developing and operating rooftop solar generation projects across selected assets and properties in the SDP's portfolio. This followed an MoU between the two parties in 2023 to explore sustainable energy infrastructure, including solar, EV charging and microgrid systems across the group's townships. Through this pilot rollout, Sime Darby Property and TNB are contributing towards Malaysia's target of achieving 70% renewable energy capacity by 2050, as outlined under NETR and PETRA's strategic direction.
New Straits Times
28-04-2025
- Business
- New Straits Times
SD Property first to harness solar energy under ministry's CREAM initiative
KUALA LUMPUR: Sime Darby Property Bhd, in collaboration with Tenaga Nasional Bhd (TNB), has become the first company to harness the power of solar energy under the country's National Energy Transition Roadmap (NETR) via community renewable energy aggregation mechanism (CREAM) initiative. The pioneering project is the first of its kind in the country under the newly-established CREAM framework, introduced by the Energy Transition and Water Transformation Ministry in March 2025. The initiative empowers community-based renewable energy production by leveraging local energy generators and aggregators (LEGA) to decentralise green electricity generation. SD Property group managing director and chief executive officer Datuk Seri Azmir Merican, said its participation in the CREAM initiative with TNB presents a practical and scalable model to unlock solar energy potential within its townships. "By leasing roof spaces from residential properties, without requiring homeowners to install panels, we enable clean energy generation that supports our nearby commercial and industrial developments. "This approach complements our broader decarbonisation strategy, aligns with national energy objectives, and directly contributes to our emissions reduction targets," he said in a statement. Working with TNB's solar subsidiary GSPARX Sdn Bhd, SD Property will enter into lease agreements with residential homeowners interested in participating in this programme, starting with those in the City of Elmina. Rooftops of participating homes will be utilised to generate electricity, which will be exported via the local distribution line within a 5km radius for use at SD Property's commercial and industrial developments. The CREAM mechanism enables local green consumers (LGC) such as businesses and commercial users to source electricity from LEGA participants through TNB's distribution network. It allows homeowners to lease rooftops to third parties who manage and aggregate these spaces into efficient solar photovoltaic (PV) power systems. The latest collaboration between the two parties comes on the heels of a joint venture established by SD Property and TNB's GSPARX in July 2024, focusing on financing, developing and operating rooftop solar generation projects across selected assets and properties in the former's portfolio. This followed an MoU between the two parties in 2023 to explore sustainable energy infrastructure including solar, EV charging and microgrid systems across the group's townships.
Euronews
06-04-2025
- Automotive
- Euronews
Elon Musk says he hopes for 'free trade zone' between Europe and the US
ADVERTISEMENT US President Donald Trump's billionaire advisor Elon Musk said on Saturday he hopes in the US and Europe could eventually establish 'a very close, stronger partnership' and reach a 'zero-tariff zone situation.' Musk was speaking via video link the party congress of Italian far-right party League, which is in a ruling coalition led by Premier Giorgia Meloni. "I hope it is agreed that both Europe and the United States should move, ideally, in my view, to a zero-tariff situation, effectively creating a free trade zone between Europe and North America," Musk told Matteo Salvini, the LEGA party leader, via video conference. Musk also said that the agreement should include the free movement of people between both regions, and that this was his advice to president Trump. "That's what I hope occurs. And, also, more freedom for people to move between Europe and North America if they wish, if they wish to work in Europe or wish to work in America. They should be allowed to do so, in my view. So , that has certainly been my advice to the president." Musk, who owns Tesla, SpaceX, and the social media platform X, has played a key role in US government downsizing as the head of the newly created Department of Government Efficiency . Musk's comments come amidst trade war Musk's comments were in stark contrast to the sweeping tariffs announced last week by Trump, which include a minimum 10% tariff on imports to the US and 20% on imports from the EU. A close and powerful ally of Trump, Musk's comments notably came a day after China hit back at the US with 34% tariffs of its, which caused markets to slide by margins not seen since the COVID pandemic . The tariffs imposed by China come into force on Saturday 10 April. President Donald Trump reads a The NY Post as he arrives at Trump National Golf Club, Saturday, April 5, 2025, in Jupiter, Fla. (AP Photo/Alex Brandon) Copyright 2025 The Associated Press. All rights reserved. Trump was swift to criticise Beijing's retaliatory move. 'China played it wrong; they panicked -- the one thing they cannot afford to do,' he wrote in a social media post, adding, 'My policies will never change. This is a great time to get rich.' Last week, oil prices recorded their worst performance in months, and the US dollar plummeted following the announcement of the tariffs in what Trump called the US' "Liberation Day". Ursula von der Leyen EU vows to defend interests Meanwhile on Sunday, EU Commission president Ursula von der Leyen reiterated the EU's commitment to negotiating with the US, while also saying it will defend its interests through proportionate countermeasures if necessary. Von der Leyen's statement came after a phone call with the UK Prime Minister, Keir Starmer. She expressed her deep concern over the tariffs announced by President Trump on 2 April and the harm they pose to all countries, both through their direct and indirect effects, including on the world's poorest nations. Related Commission watching for Chinese steel and electronics imports amid trade war EU must be 'firm but smart' against Trump's 'big mistake' on tariffs, says António Costa Since being announced, the Trump administration's tariffs have sparked concern for global trade and economy, with countries taking different approaches as try to find the best way to deal with the potential disruption to trade and supply chains. The policy measures, which Trump vows will boost the American economy by bringing more investment and creating jobs, have drawn condemnation from leaders of the affected nations. ADVERTISEMENT Economists and analysts have also warned that the tariffs could lead to a contraction in global trade from disruption to supply chains, and may drive many countries into an economic recession, including the US.
