Sare Agreement

Sare Agreement

It will take 4 to 6 months from the signing of the SARE agreement for the system to be operational depending on the size of the project. During this period, the project would involve in-house process and detail engineering, application and approval from authorities, acquisition of photovoltaic modules and inverters, mobilization and installation. After the photovoltaic installation, GSPARX is coordinated with the TNB network for the installation of meters. Once the installations are completed, the TNB count begins from the commissioning of the photovoltaic installation in accordance with the billing cycle until the end of the contract. The Renewable Energy Supply Contract (SARE) is a tripartite contract between an investor (GSPARX), a billing agent (TNB) and a customer. This is a program that is offered to legitimate commercial and industrial customers with the aim of offering a rate lower than the network rate. After installing the solar modules, customers must pay GSPARX only for the solar energy produced at a lower rate. In addition, all monitoring and maintenance is carried out by GSPARX for the duration of the contract. Malaysia`s Renewable Energy Supply Agreement (SARE) is a programme covering related agreements and guidelines regarding the supply and consumption of renewable energy in Malaysia.

SARE is a tripartite agreement between the investor Tenaga Nasional Berhad (TNBX as a billing entity) and the buyer primarily for invoicing and invoicing and revenue management (“Service”). The agreement generally sets out the duration of the contract, the tariff for the purchase of solar energy by the investor (“Tariff AA”) as well as the agreements and obligations of each party. The SARE mechanism had received support from the Malaysian Energy Commission and Seda. Under the SARE agreement, customers cannot benefit from anticipated fees when installing solar PV modules, instant reductions in electricity costs and maintenance-free work, including monitoring and repair during the term of the contract. Solar technology is on the point and costs have become more competitive and the prices of solar PV modules have fallen by 80% since 2009. This is why the solar energy quota is no longer proposed under the Fit-in-Tariff (FiT) mechanism. According to Minister of Energy, Science, Technology, Environment and Climate Change (MESTECC) YB Yeo Bee Yin, the Renewable Energy Supply Contract (SARE) program will be complemented in 2019 by the new concept of solar leasing, in which consumers will be able to rent the solar modules and install them in their homes without having to pay for the system. This Directive does not allow users to obtain advance charges for the installation of photovoltaic (PV) modules and the payment of the monthly rental fee or solar energy consumption may be paid to the participating solar company through TNB invoices. The client signs a SARE contract with the Asset Owner. The Asset Owner then forwards the contract to TNBX.

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