KUALA LUMPUR (Oct 1): MBSB Bank Bhd has provided RM66.35 million in financing facilities to GO Energy Sdn Bhd (GESB) to support the development and implementation of solar photovoltaic (PV) projects across Malaysia.
The bank said the financing comprises RM63.3 million to part finance the construction and development of self-consumption solar PV generating systems at 13 Universiti Teknologi Mara (UiTM) campuses nationwide, and RM3.05 million to part finance solar rooftop PV installations at 35 BHPetrol stations across Malaysia.
“The projects are expected to increase the adoption of clean energy solutions within the education and commercial sectors while contributing towards Malaysia’s broader sustainability aspirations through the deployment of renewable energy infrastructure,” it said in a statement on Thursday.
The UiTM project will see GESB undertake the development of rooftop, car park and ground-mounted solar PV facilities across 13 campuses under a long-term energy supply arrangement.
MBSB said the initiative is expected to enable UiTM campuses to benefit from renewable energy generation while supporting efforts to optimise energy consumption and reduce carbon emissions.
Meanwhile, the BHPetrol project involves the installation, operation and maintenance of rooftop solar PV systems at the selected BHPetrol stations.
“Under the programme, electricity generated from the solar PV systems will be supplied for on-site consumption, supporting greater energy efficiency and advancing sustainable business practices within the retail fuel sector,” it said.
MBSB group chief executive officer (CEO) Rafe Haneef said solar isn’t just a sustainability statement, it’s a direct benefit to bottomline.
“By financing rooftop and ground-mounted systems across 13 UiTM campuses and 35 BHPetrol stations, we’re helping these institutions lock in cheaper, self-generated electricity for years to come, insulating them from future tariff hikes while cutting emissions.
“We encourage businesses and corporates to partner with us as we have allocated RM1 billion to accelerate solar adoption across industries, supported by a team with extensive experience and specialised knowledge of the sector,” he said.
UiTM Energy & Facilities Sdn Bhd CEO Ir Noor Iziddin Abdullah Ghazal said these projects translate directly into lower energy bills for the campuses and greater budget certainty over the long term.
“Reducing our exposure to grid tariffs frees up resources that can be redirected towards our core academic mission, while advancing our sustainability commitments,” he said.
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