BM GreenTech Acquires 29.99 MWac CGPP Solar Project SPV in Malaysia from NEFIN Energy
BM GreenTech Berhad has acquired 100% equity interest in NEFIN V Power Sdn Bhd, holder of a 29.99 MWac solar PV project under Malaysia's Corporate Green Power Programme (CGPP), from NEFIN Energy and NEFINCO for RM 3.6 million. Commissioning is expected in 2027, with renewable energy supply agreements already secured with Fortune 500 corporate offtakers. The acquisition marks BM GreenTech's entry into utility-scale solar ownership.
Transaction date: · Source: solarquarter.com
Key facts
- Transaction date
- Technology
- Solar PV
- Capacity
- 30 MW
- Transaction price
- 0.8 million (currency as reported in the source)
- Buyer
- BM GreenTech Berhad (via subsidiary Plus Xnergy Holding Sdn Bhd)
- Seller
- NEFIN Energy (Malaysia) Sdn Bhd (90%) and NEFINCO (Malaysia) Sdn Bhd (10%)
- Country
- Malaysia
- Region
- Malaysia
- Continent
- Asia
- Development status
- Under Development
- PPA
- Yes
Technology details
29.99 MWac solar PV project under Malaysia's Corporate Green Power Programme (CGPP). Expected to generate an average of 60,000 MWh of electricity annually and avoid more than 1.1 million tonnes of CO₂ over an estimated 25-year operational life. Commissioning expected in 2027. Transaction executed through two separate share purchase agreements: 90% from NEFIN Energy for RM 3.24 million and 10% from NEFINCO for RM 360,000, totalling RM 3.6 million (approximately €0.8 million).
Power purchase agreement (PPA)
Renewable energy supply agreements secured with corporate offtakers under Malaysia's Corporate Green Power Programme (CGPP), including Fortune 500 companies from the semiconductor and food manufacturing sectors.
Additional information
Marks BM GreenTech's entry into utility-scale renewable energy asset ownership and first greenfield renewable energy investment. Plus Xnergy transitions from EPC contractor to long-term owner and operator (DBOO model). Renewable energy supply agreements already secured with corporate offtakers including Fortune 500 companies in semiconductor and food manufacturing sectors. With this acquisition, BM GreenTech's recurring income-generating renewable energy asset pipeline expands to 74 MWp. Plus Xnergy has a nationwide portfolio of over 510 MWp of grid-connected solar projects as of June 2026.
Source
Original announcement: https://solarquarter.com/2026/07/06/bm-greentech-enters-utility-scale-solar-segment-with-acquisition-of-29-99-mw-cgpp-project-spv/