Kuala Lumpur: Bank Islam Malaysia Bhd has signed a financing agreement worth RM105.2 million with Solar Voltech Sdn Bhd, a subsidiary of PDC Premier Holdings Sdn Bhd, for a solar generation project. Bank Islam’s chief executive officer Datuk Mohd Muazzam Mohamed stated that the financing aligns with the National Energy Transition Roadmap (NETR), aiming to aid Malaysia’s goal of achieving net zero carbon emissions by 2050.
According to BERNAMA News Agency, the collaboration between Bank Islam and Solar Voltech to support green technology commenced in 2024, involving a total financing of RM105.2 million. Bank Islam is focused on driving green sustainability through innovative financing solutions, as shared by Mohd Muazzam during the signing ceremony.
Bank Islam was represented at the event by group chief business officer (institutional banking), Sharifah Sarah Syed Mohamed Tahir, while Solar Voltech was represented by chief operating officer Izwanaim Ismail. Mohd Muazzam emphasized that as a leader in shariah-compliant sustainable financing, Bank Islam is committed to accelerating Malaysia’s green economy growth and creating significant impacts on businesses, communities, and the environment.
The financing support amounting to RM105.2 million contributes to Bank Islam’s green and sustainable financing portfolio, which has reached RM5 billion as of 2024. This marks 58.1 percent of the total approved financing for renewable energy sectors within the overall green financing portfolio as of 2024. In light of this achievement, Bank Islam has set a higher target to expand its sustainable financing portfolio to RM28 billion by the end of 2025.
Izwanaim Ismail from Solar Voltech highlighted that the solar project investment will generate clean energy for numerous homes, commercial buildings, and industries. The project aims to reduce reliance on fossil fuels and significantly cut carbon emissions, offering long-term benefits such as energy cost savings, improved air quality, and job opportunities in the green technology sector, aligning with Malaysia’s carbon-neutral target by 2050.
Mohd Muazzam further expressed that the partnership underscores the company’s efforts in advancing Malaysia’s renewable energy agenda while addressing climate change challenges. With this agreement, both parties are optimistic about realising their shared vision of a greener and more sustainable future, in line with the nation’s aspirations for carbon neutrality by 2050.
The solar project led by Solar Voltech will incorporate various clean technologies, including solar photovoltaic (PV), building integrated PV systems, electric vehicle charging infrastructure, and energy audits.