UEM Sunrise inks MOUs with Petronas’ units on sustainability, green energy

• In the immediate term, the collaboration with Gentari will explore the introduction of low-carbon solutions, specifically EV charging points and an electric forecourt at UEM Sunrise facilities, as well as solar farms at UEM Sunrise lands.
• The collaboration will also include incorporating existing and new sustainable solutions within UEM Sunrise developments.

KUALA LUMPUR (Sept 22): UEM Sunrise Bhd said it is collaborating with two units of Petroliam Nasional Bhd (Petronas) in areas relating to sustainability, renewable and green energy, carbon emission solutions, as well as exploration of green mobility.

The group said it inked memorandums of understanding (MOUs) with the two companies, Petronas Global Technical Solutions Sdn Bhd (PGTSSB) and Gentari Sdn Bhd, on Thursday (Sept 22).

The collaboration will also include incorporating existing and new sustainable solutions within UEM Sunrise developments, the group added in a filing with Bursa Malaysia.

In the immediate term, the collaboration with Gentari will explore the introduction of low-carbon solutions, specifically EV charging points and an electric forecourt at UEM Sunrise facilities, as well as solar farms at UEM Sunrise lands.

Meanwhile, in the long term, the MOU with PGTSSB will explore low carbon and nature-based solutions such as smart green energy solutions and renewable energy, circular economy, as well as sustainable technical and technology solutions.

“We are excited to work alongside like-minded entities such as PGTSSB and Gentari towards a shared goal of achieving carbon neutrality by 2050. With our strategic partnership, I’m confident that we are heading in the right direction toward our goals," said UEM Sunrise chief executive officer (CEO) Sufian Abdullah.

“This will be a start to a mutually beneficial partnership that can bring long-term sustainable value for the communities we serve,” he said in a statement.

Representing Gentari, Petronas’ head of Clean Energy Solutions Transition, Shahrizal Yang Razalli said the transition towards cleaner energy provides significant opportunities in Malaysia.

“Collaborating with a partner similarly passionate about this transition such as UEM Sunrise, will help Gentari advance our integrated efforts in driving the switch towards sustainable mobility and adoption of renewable energy.

"With this collaboration, Gentari continues to live up to our purpose of solving the world’s most pressing sustainable energy needs, providing solutions that can change how we live today for a better future,” he said.

PGTSSB CEO Annaliz Abu Bakar said the company is confident that the synergy will continue to grow through both companies’ touch points to benefit more stakeholders, as Malaysia moves towards being a carbon-neutral country by 2050.

“PGTSSB is excited to enter into this strategic collaboration, as we expand our expertise beyond the energy industry,” said Annaliz.

UEM Sunrise’s share price settled unchanged at 28 sen on Thursday, bringing it a market capitalisation of RM1.42 billion.