Kuching, 8 November 2023 – Clean energy expert, Solarvest Holdings Berhad (“Solarvest”), via its subsidiary, Vestech Energy Sdn Bhd (“Vestech”), signed a Memorandum of Understanding (“MoU”) with Alliance Bank Malaysia Berhad (“Alliance Bank”) and renowned Sarawakian property developer, Hornbill Networks Consortium Sdn Bhd (“Hornbill Networks”). This collaborative effort is aimed at driving the adoption of clean energy solutions in Sarawak.
The MoU involves the integration of solar photovoltaic (“PV”) systems into Hornbill Networks upcoming residential development projects, with Vestech serving as the solar solution provider. Alliance Bank will provide financial support for the initiative, and more broadly, help to raise awareness of the respective parties’ efforts to increase clean energy adoption.
The integration of solar PV systems will be implemented in Hornbill Networks upcoming Samariang Avenue Phase 2 in Kuching, Sarawak, with Hornbill Networks gearing up to launch 500 additional solar-ready homes by 2025. The subsequent phase will see Solarvest installing electric vehicle (“EV”) charging facilities as part of the development.
Executive Director of Solarvest, Mr. Leon Liew Chee Ing (刘骐英) said, “We are delighted to embark on this collaboration, as it reflects our commitment to innovation and sustainable development in the residential market. In alignment with Sarawak’s Premier announcement earlier this year to adopt solar energy in housing projects, we are empowering homeowners with direct access to a clean energy source and contributing to a greener future. Furthermore, our vision extends beyond solar rooftop solutions. In our upcoming phase, we will be introducing electric vehicle (“EV”) charging facilities to Hornbill Networks residential projects, thereby providing a comprehensive clean energy solution that caters to various aspects of sustainable living. With Solarvest’s proven track record, we are confident in realising Hornbill Networks vision for sustainable homes and driving meaningful energy transition.”
Chief Executive Officer of Hornbill Networks, Mr. Hanizam Hashim said, “Our introduction of solar-ready homes sets an exemplary model for property developers and promotes sustainable development in Sarawak. In line with our core principle of ‘building sustainable communities through networking in green innovation’, we are enthusiastic about incorporating solar PV installations for our homeowners. This initiative offers homeowners long-term savings on electricity while enabling them to play an active role in reducing carbon footprints. Importantly, it aligns with the state’s renewable energy goals, propelling us toward more environmentally conscious living.”
Group Chief SME & Commercial Banking Officer of Alliance Bank, Mr. Raymond Chui Keng Leng (崔庆麟) said, “As a Bank, we aim to create a positive impact on society, the environment and the economy by raising awareness and enabling our customers in their Environment, Social, Governance (“ESG”) adoption journey. Our aim to be our customers’ preferred banking partner is through the creation of a positive impact in the community via our 3As approach namely Advocacy, Advice, Answers which is a process that helps them kickstart their sustainability journey. Our winning proposition offers both financing and non-financing solutions, through which we collaborate with like-minded partners on such as Hornbill Networks and Solarvest, to enable our customers to capture more growth opportunities which in turn drives Alliance Bank’s new sustainable banking business target of RM15 billion by FY2027. We hope to continue such collaborations and continue working together towards a more sustainable and greener future.”
The MoU signing ceremony was witnessed by the Minister of Utility and Telecommunication Sarawak, YB Datuk Sri Haji Julaihi bin Haji Narawi.
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