Alliance Bank has partnered with AQ Energy to make solar energy and battery storage solutions more accessible to small and medium-sized enterprises (SMEs). This collaboration, formalized through a Memorandum of Understanding (MoU), aims to simplify the adoption of renewable energy solutions by offering comprehensive financial and technical support, thereby promoting sustainability among Malaysian businesses.
Supporting Malaysia’s Renewable Energy Goals with SME solar solutions
Alliance Bank Malaysia Berhad and AQ Energy Sdn Bhd have formalized a strategic partnership to simplify and expand access to solar energy for SMEs. This collaboration directly supports Malaysia’s National Energy Transition Roadmap (NETR), which targets achieving 70% renewable energy capacity by 2050 and reaching net zero by the same year. By making solar solutions more accessible, the partnership aims to be a key contributor to these national sustainability goals.
The partnership focuses on streamlining the adoption of not just solar photovoltaic (PV) systems but also Battery Energy Storage Systems (BESS). This addition is crucial for businesses with high energy consumption, allowing them to store excess solar energy generated during the day for use at night or during peak demand hours. Alliance Bank will provide financial support through its Green Energy Financing (AGEF) facility, offering up to RM 6 million in financing with a 100% margin of advance. To ease the financial transition, SMEs can also benefit from a moratorium of up to six months on the principal repayment, allowing them to better manage cash flow.
In addition to financing, AQ Energy, a registered solar service provider under Malaysia’s Sustainable Energy Development Authority (SEDA), will offer end-to-end technical support. This includes free consultations, installation, and maintenance services. This comprehensive approach ensures SMEs understand the basics of solar panel manufacturing and have the expertise needed to successfully adopt solar energy and reduce their carbon footprint.
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Commitment to Sustainability through SME solar solutions
The partnership between Alliance Bank and AQ Energy is a significant step toward promoting sustainability in Malaysia’s SME sector. As part of Alliance Bank’s broader Sustainability Impact Programme, this initiative provides financing and technical expertise for impactful renewable energy projects. It directly addresses one of the biggest hurdles for SMEs: access to capital for green transitions.
Alliance Bank’s focus on sustainable financing through the AGEF facility demonstrates its commitment to guiding businesses toward greener practices. By providing robust financial and technical support, the bank helps SMEs overcome significant barriers to adopting solar energy, such as high upfront costs and technical complexities. Understanding the solar panel manufacturing plant cost breakdown reveals why these initial investments can be substantial. This initiative also includes ESG-aligned advisory services and capacity-building efforts to raise awareness and accelerate adoption.
This partnership highlights the importance of collaboration between financial institutions and renewable energy providers. By working together, Alliance Bank and AQ Energy are creating a seamless pathway for SMEs to access the resources they need, from understanding the solar panel manufacturing process to securing funding for their transition to a more sustainable future.
Empowering SMEs with SME solar solutions
For SMEs, the benefits of adopting solar energy extend far beyond environmental impact. By reducing their reliance on the grid, businesses can significantly lower their energy costs and improve their bottom line. The inclusion of BESS provides an even greater advantage: energy independence and resilience. Solar energy coupled with battery storage offers a reliable power source, mitigating risks associated with fluctuating energy prices and potential grid interruptions.
The partnership between Alliance Bank and AQ Energy is designed to make this transition as smooth as possible. With the financial backing of the AGEF facility and the technical expertise of AQ Energy, businesses can confidently invest in solar PV and BESS solutions. This holistic support covers everything from initial project identification to the long-term maintenance of systems built from various solar panel raw materials.
As Malaysia progresses toward its renewable energy targets, initiatives like this will play a crucial role. By making solar energy more accessible and affordable, the partnership is helping to create a more sustainable future for businesses and the country. This collaboration not only supports national goals but also empowers SMEs to become more resilient in the face of global environmental challenges. As more businesses adopt solar energy, Malaysia will move closer to its net zero target, ensuring a greener future for all.
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