LBS Bina Group Berhad, a well-known people’s developer, and its subsidiary, MGB Berhad, a construction and property development solutions provider, are set to embark on a transformative journey in the realm of renewable energy. They have announced a strategic collaboration with the Malaysia Green Technology and Climate Change Corporation (MGTC), an agency under the Ministry of Natural Resources, Environment, and Climate Change, dedicated to advancing Green Growth, Climate Change Mitigation, and Green Lifestyle initiatives in Malaysia.
This pioneering collaboration will give rise to a consortium that includes LBS, MGB, Midwest Green Sdn Bhd (MWG), and MGTC. The primary objective of this consortium is to revolutionize the solar energy landscape by incorporating cutting-edge green technologies into the next evolution of solar farming. The innovation will encompass Carbon Capture Storage (CCS), crop cultivation, and water harvesting, pushing the boundaries of renewable energy while promoting the development of innovative large-scale solar programs.
The Letter of Intent (LOI) was officially exchanged during the International Greentech & Eco Products Exhibition & Conference Malaysia 2023, held at the Kuala Lumpur Convention Centre. Key figures from each entity were present, including Tan Sri Ir. Lim Hock San, Executive Chairman of LBS; Datuk Wira Joey Lim Hock Guan, Group Managing Director of MGB; Ts. Shamsul Bahar Mohd Nor, CEO of MGTC; Dato’ Alvin Lam Lip Shyan, and Datuk Edward Chew Chun Hoe, representatives for MWG. The event was witnessed by YB Dato’ Sri Huang Tiong Sii, the Deputy Minister of Natural Resources, Environment, and Climate Change, with the presence of Mr Lim Chin Siu, the Group Managing Director of Solarvest Holdings Berhad, and Mr. Windsor Khor Thiam Seng, its Head of Commercial Utilities Director.
BS Executive Chairman, Tan Sri Ir. Lim Hock San, who also serves as the Executive Vice Chairman of MGB, expressed his enthusiasm for the partnership, saying, “We are thrilled to embark on this new era of sustainable energy with MGTC. Our group, bolstered by its expertise, stands at the forefront of the solar farming sector. Together, we are shaping a future where renewable energy is not merely a conceptual idea but a tangible and environmentally friendly reality. Our unwavering commitment to holistic sustainable development and environmental responsibility is our greatest strength in this endeavor.”
The consortium has appointed Solarvest Holdings Bhd (Solarvest) as its preferred Engineering, Procurement, and Construction (EPC) Contractor. Their ambitious plans for large-scale programs aim to redefine industry standards and provide a roadmap for a greener, more sustainable future.
Tan Sri Ir. Lim Hock San added, “This collaboration seamlessly aligns with the Group’s commitment to advancing our organization’s journey to achieve Environmental, Social, and Governance (ESG) goals and enhance sustainability efforts. Simultaneously, it positions us within the framework of the Malaysian Government’s Energy Transition Roadmap. We are laying the foundation for a greener and more sustainable Malaysia for the next generation.”
The strategic partnership between LBS, MGB, MGTC, and MWG signifies a pivotal moment in Malaysia’s pursuit of renewable energy and sustainability, demonstrating a concerted effort towards a cleaner and greener future.
Source: Solar Quarter