KUALA LUMPUR: Worldwide Holdings Bhd (WHB) has been recognised by The Asset with the Triple A Sustainable Infrastructure Awards 2024 for Renewable Energy Deal of the Year under the waste-to-energy (WTE) category for Malaysia.
The award was presented at The Asset's 25th annuversary celebratory gala dinner at Four Seasons Singapore.
The award recognised the syndicated green financing of up to RM999 million in relation to the development of Worldwide WTE Phase 1 spearheaded by WHB in Jeram, Selangor.
Currently in its construction stage, the project is set to be the largest and most modern WTE project in Malaysia upon completion.
It supports Selangor's green agenda through its capability to generate about 52 megawatt (MW) of green energy from processing up to 3,000 tonnes of municipal solid waste per day.
WHB group chief executive officer Datin Paduka Norazlina Zakaria said the award follows the company's previous win in 2022 for power/utilities Deal of the Year for its 1,200 MW Combined Cycle Gas Turbine Power Plant in Pulau Indah, Selangor, which is set to begin commercial operations soon.
She expressed her gratitude to the project financiers, noting that this achievement proves the viability and promising results of green projects facilitated by public-private partnership (PPP) schemes, such as the Worldwide WTE Jeram.
Norazlina added that WHBs' participation in such a landmark transaction would not have been possible without the unwavering trust placed in the company by the financial institutions.
"Leading the development of this project is indeed one of the hallmarks of WHB's role in environmental management services in Selangor for more than 30 years.
"Aside from being recognised as one of the high-impact projects under RS-1, it also serves as a long-term solution to waste management, reducing the use of land space for landfilling activities and 95 per cent of the average volume of waste currently managed through conventional landfill disposal," she said.
At maximum operating capacity, the Worldwide Jeram WTE is expected to reduce about 2,750 tonnes of carbon dioxide emissions per day and over 600 acres in landfill footprint over the next 30 years.
Aligned with WHB's environmental, social and governance (ESG) agenda aspirations, this project will be equipped with advanced international-standard technologies, such as a moving grate and stoker system and an airtight waste bunker with negative pressure, ensuring the project's clean, sustainable and environmentally friendly operations.
The Asset's prestigious Triple A Country Awards honour banking, finance, treasury and capital markets industry players from each country globally, including the Asia region, for their excellence and contributions in their respective fields and project ventures.
The awards are adjudicated by The Asset's board of editors and supplemented by client interactions generated from in-depth conversations using data analytics produced by Asset Benchmark Research.
The Asset Triple A Sustainable Infrastructure Awards shine the spotlight on this sector, supporting the importance of sustainable infrastructure to the region's future.