AmBank Group first financial institution to install solar PV locally.

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) became the first financial institution in Malaysia to install solar photovoltaic (PV) panels on one of its building located at Damansara Fairway 3 (DF3).

The installation was part of the supply agreement of renewal energy (SARE) scheme between AmBank Group and Tenaga Nasional Bhd's (TNB) subsidiary, GSPARX Sdn Bhd (GSPARX) for the solar PV self-generation project. 

AmBank Group said a total capacity of 65.61kWP solar PV panels had been installed on the rooftop of DF3 through SARE scheme where the installation was at zero capital expenditure solution.

With the solar PV installation, AmBank would be able to enjoy potential savings of about RM300,000 over the period of 21 years.

The solar PV system had been installed and generated clean energy since September 30, 2020. 

Group chief executive officer Datuk Sulaiman Mohd Tahir said AmBank Group strives to create a shared sustainable future for our customers, employees and the community at large for the benefit of its present and future generations.

"We are very pleased to collaborate with TNB as this significant milestone is aligned with AmBank Group's sustainability agenda in coping with the global environmental crisis," he said in a statement today.

TNB president and chief executive officer Datuk Baharin Din said the utility company is pleased to support AmBank Group in realising this key milestone in their sustainability agenda and becoming the first financial institution in Malaysia to adopt solar energy under the SARE scheme.

"This is a commendable decision in an increasingly complex environment of discerning stakeholders responding to the urgency of climate change.

"Through GSPARX, TNB is well-positioned to provide end-to-end services in innovative solar technology solutions, supporting our customers through a long-term strategic partnership," he said.

The solar PV installation is located on the rooftop of AmBank DF3 with about 66kWp in size.

This initiative is expected to offset 59.3 metric tonnes of carbon dioxide annually.

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