The investment holding company Bina Darulaman Bhd (BDB), under the Kedah government, has established its renewable energy unit, BDB Energy Sdn Bhd, to collaborate with the local solar energy company Pumar Solar Power Sdn Bhd. This partnership represents BDB’s first foray into the renewable energy sector and is aimed at pursuing solar energy opportunities in various states, particularly in Kedah.
BDB Energy and Pumar Solar Power have signed a memorandum of understanding (MOU) outlining their collaboration’s terms and focus areas. BDB, primarily involved in engineering, construction, quarry, and property development, views this partnership as a strategic move in line with its business objectives.
The collaboration signifies a commitment to harnessing solar and other renewable energy sources to promote environmental sustainability and sustainable business practices. This aligns with the Kedah 2035 development plan’s Trust 6, emphasizing environmental sustainability across BDB Group’s portfolios.
BDB Energy is prepared to play a pivotal role in helping the Kedah state government achieve its sustainability goals as part of the Kedah 2035 development plan. BDB Energy’s expertise includes electric power generation and transmission, renewable energy production, engineering, procurement, construction, and commissioning (EPCC), solar development, operation of renewable generation facilities, maintenance, and energy efficiency solutions.
This MOU represents BDB Energy’s strategic approach to accelerate its growth in the renewable energy sector by leveraging Pumar Solar Power’s technical expertise and market presence. The partnership aims to advance sustainable energy solutions in Malaysia and beyond.
As of the latest update, BDB shares increased by 1.64% to 31 sen, with a market capitalization of RM91.18 million. BDB is a subsidiary of Perbadanan Kemajuan Negeri Kedah, which controls 60.7% of BDB.