TNB unit to offer residential solar PV packages by year-end

KUALA LUMPUR: GSPARX Sdn Bhd, a wholly-owned subsidiary of Tenaga Nasional Bhd’s (TNB) TNB Renewables Sdn Bhd, plans to offer financing self-generation packages for solar photovoltaic (PV) panels for residential customers by year-end.

GSPARX, set up to meet the huge demand for financing self-generation for solar PV investment, has started offering packages to commercial and industrial customers.

In a statement today, TNB said GSPARX was among the first investment companies in Malaysia to offer zero upfront capital expenditure solution for the installation of solar PV panels.

Through the service offered by GSPARX, TNB said its customers would benefit from saving and hedging opportunities while installers would benefit from the unlocking of business potentials of solar PV installation.

These, it said, would lead towards realising the government’s target of renewable energy contributing 20 per cent of the country’s generation capacity by 2025.

GSPARX targets to offer 1,500 megawatts of self-generation for solar PV investment by 2025.

Its revenue stream comes from the sale of energy generated by the solar PV and utilised by the customers at a price agreed by both parties on a willing buyer and willing seller basis.