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, to support a solar energy generation project. The collaboration aligns with Malaysia’s National Energy Transition Roadmap (NETR) and the nation’s objective of achieving net zero carbon emissions by 2050.
Speaking at the signing ceremony, Bank Islam’s group chief executive officer, Datuk Mohd Muazzam Mohamed, emphasized the bank’s role in driving green innovation. “This partnership reflects our commitment to advancing sustainable finance and underscores our ambition to be a catalyst for Malaysia’s green economy. With this financing, Bank Islam continues to empower green technology initiatives, which we first embarked on with Solar Voltech in 2024,” he said.
Representing Bank Islam was group chief business officer for institutional banking, Sharifah Sarah Syed Mohamed Tahir, while Solar Voltech’s delegation was led by chief operating officer Izwanaim Ismail.
Bolstering Malaysia’s Green Economy
Mohd Muazzam highlighted the strategic importance of the RM105.2 million financing, which contributes to Bank Islam’s sustainable financing portfolio—valued at RM5 billion as of 2024. Renewable energy now accounts for 58.1% of the bank’s green financing initiatives, and the institution has set its sights on expanding its portfolio to RM28 billion by 2025.
“As a leader in Shariah-compliant sustainable finance, we aim to accelerate Malaysia’s transition to a green economy, creating enduring benefits for businesses, communities, and the environment,” he added.
Supporting Renewable Energy and Climate Goals
Solar Voltech’s chief operating officer, Izwanaim Ismail, underscored the solar project’s contribution to Malaysia’s carbon-neutral ambitions. “This investment will provide clean energy for hundreds of homes, commercial buildings, and industries while reducing reliance on fossil fuels and significantly cutting carbon emissions,” he said.
Izwanaim noted the project’s long-term benefits, which include energy cost savings, improved air quality, and job creation within the green technology sector. “It supports Malaysia’s global commitments to combat climate change and underscores the importance of sustainable development,” he added.
The project, spearheaded by Solar Voltech, will integrate a suite of clean technologies such as solar photovoltaic systems, building-integrated photovoltaics, electric vehicle charging stations, and energy audits.
Advancing the Renewable Energy Agenda
Mohd Muazzam described the partnership as a testament to Bank Islam’s dedication to advancing Malaysia’s renewable energy agenda and addressing the critical challenges posed by climate change. “Through this collaboration, we reaffirm our commitment to building a greener, more sustainable future in line with the country’s aspirations for carbon neutrality by 2050,” he said.
The agreement marks a significant milestone in Malaysia’s renewable energy sector, signaling both public and private sector commitment to sustainable growth and climate resilience.