Ambank Malaysia Installs Solar PV Under SARE Scheme

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Malaysia’s Ambank Group became the first financial institution in Malaysia to install the solar photovoltaic (PV) panels under the Supply Agreement of Renewable Energy (SARE) scheme.

The panels were installed on one of its buildings at Damansara Fairway 3 (DF3).

This solar PV self-generation project is a deal signed between AmBank and Tenaga Nasional Berhad (TNB) through its wholly owned subsidiary company GSPARX Sdn Bhd (GSPARX).

A total capacity of 65.61kWP solar PV panels have been installed on the rooftop of DF3 through SARE scheme where the installation is at zero capex solution.

AmBank will be able to save about RM300,000 over the next 21 years with this solar PV installation.

The solar PV system has been successfully installed and generating clean energy since 30 September 2020. The installation is located on the rooftop of AmBank DF3 with approximately 66kWp in size. This initiative is expected to offset 59.3 metric tonnes of carbon dioxide annually.

AmBank Group CEO Datuk Sulaiman Mohd Tahir said the bank strives to create a shared sustainable future for our customers, employees and the community at large for the benefit of our present and future generations.

Meanwhile, TNB president and CEO Datuk Baharin Din said as a leading provider of sustainable energy solutions, TNB is pleased to support AmBank in realising this key milestone in their Sustainability Agenda and becoming the first financial institution in Malaysia to adopt solar energy under the SARE scheme.

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