PETALING JAYA: Sime Darby Property Bhd (SDP) has signed a memorandum of understanding (MoU) with Tenaga Nasional Bhd (TNB) to integrate rooftop solar solutions in the group’s townships and developments.

The partnership involves a residential solar pilot project, which includes the leasing of rooftop spaces or implementation of rooftop solar solutions on up to 1,000 existing and future properties in the City of Elmina, Shah Alam.

The pilot project may also be extended to other potential townships, SDP said in a statement today.

SDP group managing director Azmir Merican said this collaboration reflects the group’s strategy to develop a sustainable and commercially viable portfolio that will enable us to lead the domestic real estate industry’s transition to renewable energy.

“It also signifies our commitment to reducing our carbon footprint and playing our role in the nation’s green agenda,” he said.

SDP said the MoU will also see both companies exploring the implementation of electric vehicle (EV) charging infrastructure within townships and developments developed by the group.

“Both strategic partners will also look into microgrid solutions in townships, managed industrial parks and land banks within SDP,” it said.

Azmir added that renewable energy involved more than just producing electricity and tackling the issue of finite resources.

It also involves fostering environmentally and socially conscious mindsets, he said.

“By pursuing sustainability-focused initiatives, we will support Malaysia’s efforts to meet its clean energy goals and uphold our purpose to be a value multiplier for people, businesses, economies, and the planet,” he added.

As at 4.56pm, SDP’s share price was down by five sen (2.23%) at RM2.19, giving it a market capitalisation of RM14.93 billion.

TNB’s shares were down by six sen (0.59%) at RM10.06, valuing the company at RM58.22 billion.