Sime Darby Property and TNB Launch Joint Venture to Boost Sustainability in Malaysia

Sime Darby Property and GSPARX Sdn Bhd, a subsidiary of Tenaga Nasional Berhad (TNB), have announced a joint venture aimed at advancing sustainable renewable energy initiatives in Malaysia.

This partnership will harness Sime Darby Property’s extensive asset portfolio and developments alongside GSPARX’s expertise in delivering rooftop solar projects. The joint venture is set to focus on financing, developing, and operating rooftop solar generation projects across Sime Darby Property’s assets and townships.

Currently, 14 assets have been earmarked for the project, with the potential to generate up to 4.5 MW of solar capacity, marking a significant step towards a greener future. The venture aims to scale its solar capacity to 20 MW within five years and 50 MW within fifteen years.

Dato’ Azmir Merican, Group Managing Director of Sime Darby Property, underscored the initiative’s significance, stating, “Climate change is one of the biggest global challenges, and as the nation’s pioneering property developer, we have a great responsibility to take the necessary actions to minimize our operations’ impact and emissions on the planet. The rooftop solar initiative is one of Sime Darby Property’s near-term strategies to reduce 40% of its Scope 1 and 2 emissions by 2030 as the company transitions to renewable energy sources to power its operations and supply renewable energy to its commercial, industrial, and residential clients within its townships.”

Elmie Fairul Mashuri, Managing Director of GSPARX, highlighted the strategic importance of this collaboration, saying, “Partnering with Sime Darby Property enables us to expand our footprint in the rooftop solar sector, aligning with our mission to provide sustainable energy solutions. This joint venture is a significant step towards achieving the Government’s renewable energy targets and demonstrates our dedication to advancing Malaysia’s green energy landscape.”

The collaboration between Sime Darby Property and GSPARX marks a pivotal advancement in Malaysia’s commitment to sustainable energy and environmental responsibility.