Science & Technology

TNB Partners Sime Darby to Advance Malaysia’s Clean Energy Goals

Collaboration between Malaysian utility firm Tenaga Nasional Berhad (TNB) and property developer Sime Darby Property Berhad aims to expand sustainable energy projects within Sime Darby Property’s Township developments.

TNB Partners Sime Darby to Advance Malaysia’s Clean Energy Goals

Tenaga Nasional Berhad (TNB) and Sime Darby Property Berhad have signed a Memorandum of Understanding (MoU) to expand the use of sustainable energy solutions in township development and promote Malaysia’s clean energy goals.

Within the framework of a new strategic collaboration, TNB plans to implement various sustainable energy initiatives in Sime Darby Property’s townships over the next two years. These may include rooftop solar installations, electric vehicle (EV) charging infrastructure, and innovative microgrid solutions.

The efforts of the two partners support nationwide clean energy objectives as well. Namely, the planned initiatives align with the Malaysian National Energy Transition Roadmap (NETR). Besides, the fresh partnership illustrates the commitment of Government-Linked Companies (GLCs) to reducing their carbon footprint.

The two firms have earlier collaborated in developing Smart Green Home solutions in Elmina Grove at the City of Elmina in Shah Alam, Selangor. Sharing a mutual dedication to environmental, social, and governance (ESG) goals, the companies decided to commit to a long-term partnership.

“The partnership between TNB and Sime Darby Property represents a significant stride towards cleaner energy in Malaysia, demonstrating our commitment to creating more eco-friendly towns. Collaboratively, we lead the way toward a greener future, set an example for sustainable development, and support Malaysia’s goals for a cleaner environment.”

Ir. Baharin Din, TNB President and Chief Executive Officer

Malaysia has an ambitious goal to achieve net zero greenhouse gas (“GHG”) emissions by 2050. With this purpose, the country launched its centralised carbon credit marketplace – Bursa Carbon Exchange (“BCX”) – in 2022.

In September 2023, the first Shariah-compliant carbon exchange in the world and the pioneer of the voluntary carbon market in Malaysia, Bursa Carbon Exchange commenced trading and facilitation of off-market transactions of carbon credits. It is expected that, by Q3 2024, BCX will expand its environmental product portfolio with Renewable Energy Certificates (RECs).

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.