Sunway Group will create cooperative projects with Tenaga Nasional Bhd (TNB) and look into new possibilities in the fields of clean energy enterprises, environmental, social, and corporate governance (ESG) capabilities, and energy transition solutions.
Both parties inked a memorandum of understanding (MoU) on March 17.
Data centre development, the installation of solar photovoltaic, district cooling, and electric vehicle infrastructure in Sunway's real estate, the production of renewable energy, energy-related digital solutions, workforce capacity, and academic research and development are areas of potential collaboration, the parties said in a joint statement.
A successful partnership in any, if not all, of the aforementioned areas, according to TNB and Sunway, will help both businesses build long-term commercial value and fulfill their ESG commitments.
They said that the move is intended to establish sustainable business principles and investigate joint venture options in advancing energy transition strategies, fostering the growth of clean energy companies, and enhancing ESG capabilities.
Sunway's business divisions comprise real estate, construction, hospitality, retail, leisure, commercial, trading and manufacturing, building materials, quarrying, healthcare, education, and real estate investment trust.