KUALA LUMPUR: IJM Land Bhd aims to explore business opportunities with Progressture Power Sdn Bhd in maximising deployment for a total capacity of 40 MWp (megawatt peak) solar energy in the property developer's future developments.

Both parties have signed a memorandum of understanding (MoU). The scope of the partnership encompasses the pre-installation of solar rooftop photovoltaic (PV) systems with a capacity of 25 MWp for residential developments, along with the options for enabling homeowners to benefit from this implementation.

In a joint statement today, they said that the partnership also includes the development of a 15 MW floating solar farm spanning 15 hectares at IJM Rimbayu.

Cumulatively, this solar deployment is projected to reduce 40,997 metric tonnes of carbon dioxide each year and over one million metric tonnes in the next 25 years.

IJM Land chief executive officer Datuk Wong Tuck Wai said the intersection of real estate and renewable energy (RE) allows the company to tap into new growth areas in the property industry.

"As we move in tandem with the roll-out of the National Energy Transition Roadmap (NETR), there is a greater recognition of the essential role consumers have in shaping our energy future.

"With IJM Land's continued commitment to best facilitate homeownership for our customers, we are leveraging on our cross-industry strengths for the implementation of RE infrastructure and solutions," he added.

IJM Land chief operating officer Datuk Tony Ling Thou Lung added that the company's current efforts validate solar as a viable source of RE, and to this effect, the solar deployment is a core component of their pilot project.

"We aim to maximise the use of IJM Land's residential rooftop space and lake surface area in addressing solar adoption barriers such as space constraints and high capital costs," he said.

As part of the collaboration, IJM Land and Progressture Solar will be utilising the Energy-as-a-Service (EaaS) approach that will provide end-to-end management of energy assets and services for homeowners in IJM Land's townships.

Applied with high feasibility across a wide variety of sectors, the statement highlighted that the global EaaS market is estimated to reach RM693.21 billion by 2029.

"The partnership is set to be operationalized in line with the implementation of the third-party access (TPA) for the nation's electricity supply industry, which will enable other parties such as independent power producers (IIPs) to supply energy using Tenaga Nasional Bhd's (TNB) transmission lines," it added.