In conjunction with the recent National Energy Transition Roadmap (“NETR”) Phase 1 launch by Minister of Economy, YB Mohd Rafizi Ramli at the Invest Malaysia KL 2023 Special Series, Sime Darby Property Berhad (“Sime Darby Property” or “Group”) outlined its support for the Government’s vision to achieve 70% renewable energy generation capacity by 2050.
The Group mapped out its foray into rooftop solutions for solar energy production with a presentation titled Sime Darby Property – Solar Solutions for Townships. This venture is aligned with the Group's strategy to become a real estate company with diversified revenue streams by 2025.
Sime Darby Property’s Group Managing Director, Dato’ Azmir Merican said: “In the face of global energy transition, our commitment goes beyond maximising the value of our assets; it is about shaping the future. This venture into renewable energy creates diverse revenue streams, and ushers in an era of sustainable growth for Sime Darby Property and our investors”.
Sime Darby Property is exploring rooftop solar solutions with 1,000 residential landed units as a pilot in the City of Elmina, Shah Alam, leading the way for green townships and further carbon emissions reduction. With a successful pilot project paving the way, this initiative could be extended to 10,000 future Sime Darby Property homes to be rolled out in the next five years.
Dato’ Azmir added, “This is not just about energy generation, it is about creating an ecosystem where supply from previously-unutilised rooftops of homes built by Sime Darby Property is harnessed to meet the increasing demand for green energy. Under this model, rooftops are leased from home buyers for the installation of solar solutions. Solar energy generated is off taken within the township by high-demand users from the retail/commercial or industrial sector”.
In the future, in addition to rooftop solar solutions, Sime Darby Property also envisions utility-scale ground-mounted solar farms to be developed on an estimated 1,000 acres of its lands in Johor and Kedah. The supply of solar energy from these solar farms will supplement the demand requirements of its townships.
Dato’ Azmir concluded, "We are about to take the next step at our townships, with Sime Darby Property as a key generator of solar energy for its townships, among others. However, this is more than just a commercial venture, it is about empowering communities and playing a significant role in Malaysia's ambitious renewable energy transition. Sime Darby Property will continue to play an important role in realising and accelerating the Government's drive towards net-zero emissions”.
(1 August 2023)