Corporate News · Partnership
Top Glove Properties and NexGen AI Holding sign ESG MoU and 20-year solar PPA for Mines 2
NexGen AI Holding and Top Glove Properties have signed a Memorandum of Understanding to advance ESG excellence together — anchored by a 20-year Power Purchase Agreement to bring rooftop solar to the Mines 2 development.
Signed between Top Glove Properties Sdn Bhd and NexGen AI Capitals Sdn Bhd, the MoU establishes a strategic partnership for sustainability — pairing one of Malaysia's most recognised industrial groups with NexGen's clean-energy and AI capabilities.
At the heart of the agreement is a 20-year solar Power Purchase Agreement (PPA). Under it, NexGen AI Energy will design, build, own and operate a rooftop solar system at Mines 2 — delivering clean electricity directly to the property at no upfront cost, with savings against the grid tariff over the full two decades.
Deal at a glance
- Parties: Top Glove Properties Sdn Bhd & NexGen AI Capitals Sdn Bhd
- Scope: Strategic MoU for ESG excellence + 20-year solar PPA
- Project: Rooftop solar at the Mines 2 development
- Model: Zero upfront capex — clean power purchased per kWh for 20 years
The rooftop system will generate renewable energy on-site, reduce the property's carbon footprint and lower long-term energy costs — supporting Top Glove Properties' sustainability goals and Malaysia's broader energy transition.
For NexGen, the partnership extends a growing portfolio of zero-capex commercial and industrial solar across the country, turning underused rooftops into long-term, revenue-generating clean-energy assets.
Details summarised from the MoU signing ceremony. Figures and project scope are indicative and subject to the definitive agreements between the parties.