Renewable power for SP Setia tasks

KUALA LUMPUR: SP Setia Bhd plans to embed renewable power options as the primary supply of electrical energy for its upcoming residential and business properties price RM4bil in 2022.

This transfer, which might be prolonged to its different tasks from this 12 months, is a part of its dedication in direction of the nationwide agenda of reaching a carbon-neutral nation by 2050.

To make this sustainable agenda profitable, the property developer has joined forces with Tenaga Nasional Bhd (TNB), which can present its upcoming properties with a rooftop photo voltaic photovoltaic (PV) system, battery options and electrical car (EV) infrastructure.

Yesterday, each trade giants inked a memorandum of understanding (MoU) to make sure that SP Setia’s properties are future-ready to help the set up of rooftop photo voltaic PV programs and battery options in its upcoming residential and business growth tasks.

SP Setia president and chief government officer Datuk Choong Kai Wai stated the green-ready options offered by TNB can be applied within the majority of its upcoming future phases of residential and business properties.

“We plan to launch new properties with a gross growth worth (GDV) of RM4bil this 12 months and it’s our intention to equip half, if not all, with these new inexperienced options.

“We are going to create a brand new benchmark for houses in Malaysia with these actions, cultivating inexperienced life,” he informed reporters on the press convention yesterday.

It is very important word that SP Setia intends to launch RM4bil price of latest merchandise focusing totally on landed residential tasks in Setia Alam, Setia Eco Glades, Setia Safiro, Setia Alam Impian, Bandar Kinrara, Setia Bayuemas, Setia Ecohill & Ecohill 2, Setia Eco Park and Setia Warisan Tropika within the Central area; Setia Indah, Taman Rinting and Taman Pelangi Indah within the southern area, and Setia Fontaines within the northern area.

As of Dec 31 final 12 months, SP Setia had 48 ongoing tasks and a remaining land financial institution of seven,237 acres with a GDV of RM122.4bil.

The group’s web revenue jumped 118.24% to RM123.32mil for the fourth quarter ended Dec 31, 2021 (4Q21) from RM56.5mil a 12 months in the past, pushed by an improved revenue margin and better share of outcomes from some joint-venture corporations.

Regardless of the inclusion of renewable power options in its property developments, Choong defined that the value of the group’s upcoming properties can be “minimally” impacted, noting that the price of the renewable power options was at a “very minimal further value” to the developer .

“TNB will present the infrastructure to us at a aggressive value and our consumers will profit from power financial savings on their electrical energy payments,” he stated.

TNB chief retail officer Datuk Megat Jalaluddin Megat Hassan identified that SP Setia’s clients can expertise power financial savings of between 20% and 50% of their electrical energy invoice with the sensible power options offered by the corporate.

“The premises would even be designed to help the set up of EV chargers if the house owners resolve to put in them later,” he added.

In the meantime, TNB president and chief government officer (CEO) Datuk Baharin Din stated the MoU would supply the group with a possibility to assist promote low carbon mobility in addition to acquire insights into property builders’ preferences and expectations, thus enabling to determine its future strategic companions.

“TNB may even be concerned on the early stage of the property growth to offer sensible power options to SP Setia.

“Given our expertise and experience, we purpose to leverage on the 41 lively tasks of SP Setia and suggest related and exact merchandise in keeping with the corporate’s wants,” he defined.

Among the many individuals attending the MoU ceremony included Minister within the Prime Minister’s Division (Financial system) Datuk Seri Mustapa Mohamed, Vitality Fee CEO Abdul Razib Dawood, Permodalan Nasional Bhd CEO Ahmad Zulqarnain Onn, SP Setia chairman Tan Sri Syed Anwar Jamalullail and TNB chairman Datuk Seri Hasan Arifin.

Welcoming the sensible power initiative by TNB and SP Setia, Mustapa believes this collaboration may assist the federal government obtain its aim of reaching 45% discount in greenhouse gases by 2030.

He hoped that different corporations would emulate TNB and SP Setia by creating residential areas of higher environmental high quality with inexperienced and sustainable power sources.

“It’s a particular initiative that brings two completely different entities within the power and housing industries, working hand-in hand in direction of a typical aim that delivers advantages to the nation.

“It’s in step with local weather change and inexperienced expertise.

“Such initiatives grow to be more and more necessary as Malaysian buying and selling companions, monetary establishments and the capital market impose situations on compliance with environmental, social and governance (ESG) ideas of their funding selections or product manufacturing.

“In keeping with the sustainability and inexperienced progress agenda, the federal government may even additional strengthen the ESG-based strategy,” he added.


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