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OpenSys Becomes First ICT Company to Invest in mRECs For Sustainability
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October 14, 2021 News

 

OpenSys (M) Berhad has entered into an agreement with TNBX Sdn Bhd, a wholly owned subsidiary of Tenaga Nasional Berhad (TNB), to purchase Malaysia Renewable Energy Certificates (mRECs) that is equivalent to 100% of its yearly power consumption at four of its offices and operation centres. OpenSys is the first ICT company in Malaysia to invest in these non-tangible energy commodities that contribute to the generation of renewable and sustainable energy.

Additionally, OpenSys has extended the scope of the purchase to include the energy consumption of the Bill Payment Kiosks that OpenSys provides to TNB, making TNB’s Bill Payment Kiosk the first ‘green’ payment kiosk in the country. OpenSys currently supplies about 200 units of Bill Payment Kiosks to TNB’s customer service centres.

Renewable Energy Certificate (REC) is a certificate that represents the delivery of 1 MWh of renewable energy to the national grid and all associated environmental benefits of displacing 1 MWh of conventional power. REC is a tradable, market-based instrument that is produced for every 1 MWh of renewable energy generation, allowing owner of the REC to claim the rights to the renewable energy generated.

The implementation of REC will increase market demand for renewable energy as every purchase of REC will contribute to more funds for the renewable energy developers to build more renewable energy assets. Consequently, more RECs will be available in the market and eventually, there will be less dependency on brown energy to power up the nation and more on cleaner green energy.

OpenSys Chief Executive Officer Eric Lim said the purchase of mRECs marks another significant step for the Group’s sustainability initiatives. OpenSys owns and operates ‘buySolar’, a Fintech marketplace for renewable energy focusing on solar solutions and financing. ‘buySolar’ is actively driving the adoption of solar PV for homes and businesses to save on electricity bills, while simultaneously contributing towards long-term environmental sustainability. The Group will continue to review its business operations and identify other initiatives in meeting its sustainability goals.

“We are proud to be the first ICT company in Malaysia to invest in mRECs and our business operations now run 100% on renewable energy”, said Lim. “We are equally honoured (in collaboration with TNB) in making TNB’s Bill Payment Kiosks the first ‘green’ payment kiosk in Malaysia. Our investment contribution will enable more renewable energy assets to be built and spur the development of clean energy for a greener Malaysia”.

mRECs are issued by TNBX on The International REC Standard Foundation (I-REC) registry, which is trusted internationally. TNBX is currently the provider of RECs with the recognition of certification from I-REC in Malaysia.

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