MBSB Bank finances GO Energy solar projects with RM66.35 million
The facilities will partly fund solar systems at 13 UiTM campuses and rooftop installations at 35 BHPetrol stations.
MBSB Bank Bhd said it has extended financing facilities worth RM66.35 million to GO Energy Sdn Bhd (GESB) for solar photovoltaic (PV) developments in Malaysia, covering university campuses and petrol stations.
Of the financing, RM63.3 million will fund part of the construction and development costs for self-consumption solar PV systems serving 13 campuses of Universiti Teknologi Mara (UiTM). Another RM3.05 million will partly fund rooftop PV installations at 35 BHPetrol stations.
GESB will develop rooftop, car park and ground-mounted facilities for the UiTM project through an arrangement for long-term energy supply. At the selected BHPetrol sites, the project covers rooftop system installation as well as operation and maintenance, with the electricity produced to be consumed on-site.
MBSB group chief executive officer Rafe Haneef said the systems would help the institutions obtain cheaper electricity from their own generation, reduce exposure to future tariff increases and cut emissions. He also said the bank has allocated RM1 billion to support solar adoption across industries.
UiTM Energy & Facilities Sdn Bhd CEO Ir Noor Iziddin Abdullah Ghazal said the projects would lower campus energy bills and provide more certainty for long-term budgeting. He said reduced exposure to grid tariffs would allow resources to be redirected to academic activities.
