TNB & S P Setia sign MoU on green energy initiatives

Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed (Centre) with TNB chairman Datuk Seri Hasan Arifin (extreme left), Permodalan Nasional Bhd CEO Ahmad Zulqarnain Onn (second from the left) and S P Setia chairman Tan Sri Syed Anwar Jamalullail (extreme right) witnessing the signing of the MoU between TNB and S P Setia. The MoU was signed by TNB chief retail officer Datuk Ir Megat Jalaluddin Megat Hassan (seated second from the left) and SP Setia president and chief executive officer Datuk Choong Kai Wai (seated second from the right).

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has partnered S P Setia Bhd to provide smart energy and renewable energy (RE) solutions to the developer’s future property developments.

In a statement, TNB said a memorandum of understanding (MoU) was signed to enable the installation of a rooftop solar PV system as well as ensuring the properties are future-ready to support the installation of battery solutions in S P Setia’s upcoming residential and commercial development projects.

The utility giant said the initiative offered customers of SP Setia the option to leverage on the solution once it was commercially available upon the end of the Net Energy Metering (NEM) quota.

The premises are also designed to support the installation of electric vehicle (EV) chargers if the owners decide to install them later.

TNB said the initiative was in line with the group's sustainability pathway and SP Setia's environmental, social and governance (ESG) roadmap towards zero net carbon emissions by 2050.

The NEM 3.0 scheme encourages electricity consumers to install rooftop solar PV, whereby the excess energy generated by solar PV can be exported back to the power grid on a “one-on-one” offset basis.

An allocation quota of 800 MW from 2021-2023 is provided for NEM 3.0 scheme for residential houses, commercial buildings as well as buildings of the government and its agencies.

The MoU was signed by TNB chief retail officer Datuk Ir Megat Jalaluddin Megat Hassan and S P Setia president and chief executive officer Datuk Choong Kai Wai.

TNB president and chief executive officer Datuk Ir. Baharin Bin Din said the MoU would provide TNB with an opportunity to help promote low carbon mobility as well as gain insights into property developers’ preferences and expectations, thus enabling TNB to identify its future strategic partners.

“TNB would also be involved at the early stage of the property development to provide smart energy solutions to S P Setia.

“Given our experience and expertise, we aim to leverage on the 41 active projects of S P Setia and propose relevant and precise products according to the company’s needs,” he said.

Meanwhile, Chong said: “We are pleased to sign this MoU with the national utility provider. This is an achievement in collaboration to provide sustainable energy solutions to our future property owners with the potential for significant savings in energy consumption as added value.”