KUALA LUMPUR, IJM Land Bhd has signed a memorandum of understanding (MoU) with Progressture Power Sdn Bhd, to explore business opportunities in maximising deployment for a total capacity of 40 megawatt peak (MWp) solar energy in IJM Land's future developments. It said 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 the implementation. 'The partnership includes the development of a 15 MWp floating solar farm spanning 15.18 hectacres at IJM Rimbayu. 'Cumulatively, this solar deployment is projected to reduce 40,997 tonnes of carbon dioxide each year and over one million tonnes in the next 25 years,' it said in a joint statement today. IJM Land said as part of the collaboration, both companies 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 global EaaS market is estimated to reach RM693.21 billion by 2029,' said IJM Land. The company said the collaboration is set to be operationalised 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 to supply energy using Tenaga Nasional Bhd's (TNB) transmission lines. IJM Land chief executive officer (CEO) 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. '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 said. Meanwhile, Progressture Solar co-founder and CEO Cliff Siaw Sze Hau said the company aims to strengthen the industry-wide movement by empl oying technologies that support advanced solar PV systems and optimised energy yields. 'As an end-to-end solar PV solution and service provider, we play a dynamic role in the integration of RE best practices for the real estate sector,' he added. Source: BERNAMA News Agency