Bursa Malaysia Carbon Market Sdn Bhd, a wholly-owned subsidiary of Bursa Malaysia Berhad, which operates the Bursa Carbon Exchange (“BCX”) entered into a Memorandum of Collaboration with UEM Lestra Bhd (“UEM Lestra”), a wholly-owned subsidiary of UEM Group Berhad, on 22 July 2025 to offer its “auction-as-a-service” solution to UEM Lestra to facilitate an open and competitive bidding process for renewable energy supply under the Corporate Renewable Energy Supply Scheme (“CRESS”).¹
 
The auction, which is tentatively scheduled in November 2025², is another milestone for BCX as it will be the first-ever auction of renewable energy generated under CRESS, together with the renewable energy credits resulting from the same.  The auction will pave the way for each successful bidder to enter into a Bilateral Energy Supply Contract (BESC) with UEM Lestra in accordance with the CRESS guidelines.
 
The auction will benefit the relevant stakeholders as it enables UEM Lestra to seek offtakers with the best offers for their renewable energy, and interested parties to submit their bids for renewable energy based on their respective electricity demand. It is also expected to promote greater liquidity within BCX through the eventual clearing and settlement of renewable energy certificates (RECs) when UEM Lestra’s solar photovoltaic projects commence commercial operations.
 
CRESS is an initiative launched by the Malaysian Government which enables corporates to access renewable energy supply via third-party access (TPA) to the grid in Peninsular Malaysia. Our write-ups on CRESS can be accessed here, here and here.
 
BCX and UEM Lestra will be conducting a series of roadshows to raise market awareness and engage potential offtakers. Parties interested in learning more on the CRESS auction may visit https://bcx.bursamalaysia.com/auctiondetails.html or contact bcx@bursamalaysia.com.
 
 
Alert by Richard Khoo (Partner) and Rachel Chiah (Partner) of the Energy Practice of Skrine.
 
 

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