Kinergy Advancement Bhd (KAB) has signed a memorandum of understanding (MoU) with Alliance Bank Malaysia Bhd (ABMB) to promote green technology financing and clean energy initiatives in Malaysia. The initial term of the MoU is two years, with an extension through mutual written consent.
Under the agreement, KAB will provide sustainable energy engineering services which will include specialised engineering consultancy for ABMB, participation in green project financing discussions, and support for ABMB’s initiatives in sustainable energy solutions (SES), ESG, and sustainable development. Meanwhile, ABMB will provide preferential financial solutions to KAB’s SES projects, facilitate strategic connections, and serve as a banking institution for green project financing.
The MoU is in line with a collaboration between KAB, ABMB, and Mah Sing Group Bhd, and targets areas, including sustainable, green, and clean energy projects, technology innovation, green financing, and sustainable development through Environmental, Social, and Governance (ESG).