Pavilion-REIT inks MoU with five renewable companies


PETALING JAYA: Pavilion Real Estate Investment Trust (Pavilion-REIT), via its trustee MTrustee Bhd, has inked a memorandum of understanding (MoU) with five renewable companies to explore the purchase of electricity generated by solar power plant for three malls.

The move is pursuant to the Corporate Green Power Programme (CGPP) framework.The CGPP is a government initiative to provide opportunities for business entities to participate in the promotion and use of renewable energy in their business operations.

In a filing with Bursa Malaysia, Pavilion-REIT said it tied up with reNIKOLA Holdings Sdn Bhd, Sun Energy Ventures Sdn Bhd and Syarikat Osmania Logistics Sdn Bhd, otherwise known as “consortium 1”, for Pavilion Kuala Lumpur mall and Intermark mall.

Pavilion-REIT also signed MoUs with I2 Solarpark Sdn Bhd and Solarcap Sdn Bhd or dubbed as “consortium 2” for Pavilion Bukit Jalil.

The solar power plant is to be located in Pasir Mas, Kelantan.

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