MBSB Bank funds RM66.4mil GO Energy solar projects

By the Editorial Team · Friday, October 2, 2026

MBSB Bank Bhd has provided RM66.35 million in financing to GO Energy Sdn Bhd for the development of solar photovoltaic systems at 13 Universiti Teknologi Mara campuses and 35 BHPetrol stations across Malaysia. This funding supports renewable energy adoption to reduce energy costs and carbon emissions, while protecting these institutions from future electricity tariff increases.

MBSB Bank Bhd has extended RM66.35 million in financing to GO Energy Sdn Bhd (GESB) to support the development of solar photovoltaic (PV) projects across Malaysia. The funding includes RM63.3 million allocated to partially finance the construction and installation of self-consumption solar PV systems at 13 Universiti Teknologi Mara (UiTM) campuses nationwide. An additional RM3.05 million will help fund rooftop solar PV installations on 35 BHPetrol stations throughout the country.

The UiTM project involves the installation of rooftop, car park, and ground-mounted solar PV facilities across the university’s campuses under a long-term energy supply agreement. This initiative is designed to enable UiTM to generate renewable energy on-site, reduce overall energy consumption, optimize costs, and lower carbon emissions.

In parallel, the BHPetrol project focuses on installing, operating, and maintaining rooftop solar PV systems at selected fuel retail locations. Electricity generated from these systems will be used primarily for on-site consumption, aiming to boost energy efficiency and promote sustainable operational practices within the retail fuel sector.

Rafe Haneef, group chief executive officer of MBSB Bank, emphasized the financial and environmental benefits of adopting solar energy. He noted that financing both rooftop and ground-mounted solar systems at educational institutions and commercial outlets helps these organizations secure cheaper, self-generated electricity, providing protection against future tariff increases while supporting emissions reduction. MBSB Bank has allocated RM1 billion to accelerate solar adoption across various industries, leveraging a team with sector-specific expertise.

Noor Iziddin Abdullah Ghazali, CEO of UiTM Energy & Facilities Sdn Bhd, highlighted the long-term cost savings and sustainability gains for the university. By reducing reliance on the national grid and exposure to fluctuating tariffs, the project will free up financial resources that can be redirected toward academic priorities while advancing UiTM’s commitment to environmental responsibility.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.