S P Setia partners TNB to promote solar energy in its developments

PUTRAJAYA (April 12): Property developer S P Setia Bhd has inked a memorandum of understanding (MoU) with Tenaga Nasional Bhd (TNB) to install solar panels across S P Setia’s upcoming residential projects.

The MoU, which was signed today, marks S P Setia’s commitment towards the country’s agenda in achieving a carbon-neutral nation by 2050.

Besides solar panels, the new premises will also be designed to support the installation of battery solutions and electric vehicle (EV) chargers, giving owners the option to optimise their energy solutions once the Net Energy Metering (NEM) 3.0 quota ends.

S P Setia president and chief executive officer (CEO) Datuk Choong Kai Wai believes the partnership will encourage sustainable living within their communities.

“We are thrilled to work with TNB in driving change to deliver value beyond housing. We aim to encourage sustainable living and positively impact our communities.

“For Setia, building the infrastructure for clean and natural energy into the very homes we live in is a truly powerful way to increase the rakyat’s awareness and involvement.

“Our developments will be solar-ready, battery-ready and electric vehicle-ready,” Choong said. 

TNB will be involved in the early stages of the developments to implement the initiatives.

“Given our experience and expertise, we aim to leverage the 41 active projects of S P Setia and propose relevant products according to the company's needs," said TNB president and CEO Datuk Ir Baharin Din.

Baharin noted this partnership would give an opportunity for TNB to promote low-carbon mobility and understand the demand from property developers, which would help TNB identify its future partners.

Witnessing the signing ceremony of the MoU were minister in Prime Minister’s Department (Economy) Datuk Sri Mustapa Mohamed, Energy Commission CEO Abdul Razib Dawood, Permodalan Nasional Bhd CEO Ahmad Zulqarnain Onn, S P Setia chairman Tan Sri Datuk Seri Syed Anwar Jamalullail and TNB chairman Datuk Sri Hasan Arifin.

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