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BUSINESS

AmBank becomes Malaysia's first financial institution to install solar PV

14/04/2021 11:33 AM

KUALA LUMPUR, April 14 -- AmBank Group Bhd has become the first financial institution in Malaysia to install the solar photovoltaic (PV) and is expected to save about RM300,000 over the period of 21 years with the solar PV installation. 

In a statement, the bank said it had concluded a deal on the Solar PV self-generation project with Tenaga Nasional Bhd’s (TNB) wholly-own subsidiary GSPARX Sdn Bhd (GSPARX) on the Solar PV self-generation project.

Ambank said a total capacity of 65.61 kilowatts peak (kWp) solar PV system was installed on one of its building in Damansara Fairway 3 (DF3) rooftop through the Supply Agreement of Renewal Energy (SARE) scheme, where the installation was at zero capital expenditure (capex) solution, on Sept 30, 2020. 

The initiative is expected to offset 59.3 metric tonnes of carbon dioxide annually, it said. 

AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said the group strives to create a shared sustainable future for its customers, employees and the community at large for the benefit of present and future generations.

"We are very pleased to collaborate with TNB as this significant milestone is aligned with AmBank Group’s sustainability agenda in coping with the global environmental crisis," he said. 

Meanwhile, TNB president and chief executive officer Datuk Baharin Din said through GSPARX, TNB is well-positioned to provide end-to-end services in innovative solar technology solutions, supporting its customers through a long-term strategic partnership. 

-- BERNAMA

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