Leon Fuat Berhad Powers Up for Green Energy
Leon Fuat Berhad ("Leon Fuat"or the "Group"), primarily in the
business of trading, processing and/or manufacturing (collectively
referred to as "processing") of steel products, specialising in
rolled long and flat products, is pleased to announce that the
Group is making its move towards having sustainable energy powering
production operations through an investment in solar panels.
A total of RM5.26 million is being invested for solar panels as
part of the Group's sustainability initiatives and these panels
will be gradually installed in stages depending on the readiness of
Group Managing Director of Leon Fuat, Mr. Ooi Seng Khong said, "We
see this move as a good investment for the environment in the long
run to reducing CO2 emissions as we are using renewable solar
energy and it will also lower the cost of energy consumption. This
initiative will help us in our energy management initiatives and
solar power is environmentally sustainable as well as
"We have been monitoring both electricity and fuel consumption as
part of our sustainability initiatives since the financial year
ended 31 December 2017 and are cognisant of the need to source for
more sustainable sources of energy for our steel processing
operations. The installation of solar photovoltaic (PV) panels will
have a capacity of 2.1 million kWh per year, and we expect to save
an estimate of 30% savings in electricity consumption per year when
the solar panels are fully completed."
For disclosure purposes, three of the Group's subsidiaries involved
in steel processing consumed a total of 4.9 million kWh of
electricity in 2020, which is a 37.1% increase from 2019.
"We will continue to build organisational capacity to adapt to a
sustainable future while focusing on the strategy to improve
productivity through sustainable practices and bring value to our
stakeholders," Ooi said.
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