08 LOCAL NEWS
@ green | May-June , 2021
Samuel Soon ( left ) and Zaki Khir .
Protection for solar assets
Anora and Allianz General partners with envision digital
ANORA Agency Sdn Bhd ( Anora ), together with Allianz General Insurance Company ( Malaysia ) Berhad ( Allianz General ), recently signed a Memorandum of Understanding ( MoU ) with global decarbonisation and Artificial Intelligence of Things ( AIoT ) technology leader Envision Digital International Pte Ltd ( Envision Digital ) to accelerate growth in the renewable energy sector .
This MOU will offer solar photovoltaic ( PV ) owners in Malaysia both comprehensive protection and state-ofthe-art digital monitoring services for their solar energy assets .
SolarPro , a pioneering solar PV system insurance protection solution underwritten by Allianz General and exclusively distributed by Anora , offers all-risk protection and covers loss or damage to solar PV systems and loss of income or savings due to system downtime .
EnOS , Envision Digital ’ s proprietary monitoring , advanced analytics , forecasting , and optimising application , currently manages more than 200 gigawatts of energy assets globally .
Driven by machine learning , EnOS will help owners of renewable energy assets , including solar PV installations , to better monitor and manage the performance of their assets , including proactively detecting and diagnosing emerging system underperformance or component health issues , as well as providing recommendations or interventions for pre-emptive or corrective action .
“ Anora is committed towards the long-term sustainability of Malaysia ’ s solar PV industry ,” said Samuel Soon , Anora ’ s Chief Executive Officer .
“ While SolarPro has successfully addressed the protection gap in our solar PV industry , Envision Digital ’ s innovative digital monitoring system plays an integral part in increasing the reliability and longevity of the solar PV installations , thereby reducing overall operational and maintenance costs . Together , we help solar asset owners better secure their renewable energy investments ,” added Samuel .
Chief Executive Officer of Allianz Malaysia Berhad and its subsidiary Allianz General , Zakri Khir said this was an exciting step for the company as the partnership with Anora and Envision Digital fitted seamlessly into Allianz Malaysia ’ s overarching goal of becoming key levers in building a sustainable future .
“ As insurers , it is becoming increasingly apparent just how important our role is in driving the adoption of renewable energy and supporting the conversion to using solar power .
“ Our continued partnership with Anora will enable us to provide comprehensive protection to solar PV owners , both residential and commercial . Now , together with Envision Digital ’ s EnOS , we will have access to much-needed advanced analytics and forecasts that are essential in risk management and the developing newer versions of Solar- Pro in the future as well ,” said Zakri .
Renewable energy currently accounts for 18 per cent of Malaysia ’ s energy mix , with the national target to grow capacity to 20 per cent by 2025 .
“ The solar energy field is fast evolving with unprecedented developments and growth in recent years , and we are excited to work with Anora and Allianz General to promote the installation and adoption of natural energy sources and new technologies that support accelerated energy transition ,” said Sylvie Ouziel , International President , Envision Digital . — @ green
UOB Malaysia helps contribute to the country ’ s transition to cleaner energy
On the back of Malaysia ’ s increasing electricity demand , UOB Malaysia is helping to contribute to the country ’ s transition to cleaner energy through its support of power plants with lower environmental impact .
To increase the national power capacity mix , the Bank is committed to supporting the development of projects that use efficient energy sources , such as natural gas and renewables .
Power generation in the country is projected to grow by an average of 3.2 per cent annually to reach 47.8 gigawatts by the end of 20281 . The Klang Valley region accounts for the highest electricity demand in Peninsular Malaysia . With its current supply deficit , the region relies heavily on the long-distance transmission of power from both the Northern and Southern areas of the Peninsular .
We are honoured to be part of the financing consortium for Selangor ’ s major power development plan that will generate more power for the residents in the central region of Peninsular Malaysia .” – Ng Wei Wei
Ng Wei Wei , Managing Director and Country Head of Wholesale Banking , UOB Malaysia , said : “ With the central region seeing higher electricity consumption growth rates , there is a need to increase capacity by constructing power plants that are more efficient and more sustainable .
“ To this end , UOB Malaysia is committed to supporting projects that will help the country make the transition to natural gas and renewables .”
UOB Malaysia was a co-financier in a Commodity Murabahah Term Financingi facility for the recently-announced 1,200-megawatt combined-cycle gas turbine power plant in Pulau Indah , Selangor .
The project is a joint venture between Worldwide Holdings Berhad and Korea Electric Power Corporation . Upon completion in 2024 , the power plant is expected to meet the demand in the Klang Valley region in a more sustainable manner . This is because a natural gas power plant has higher energy efficiency and emits 50 to 60 per cent less carbon dioxide per kilowatthour than a typical coal plant .
Ng added : “ We are honoured to be part of the financing consortium for Selangor ’ s major power development plan that will generate more power for the residents in the central region of Peninsular Malaysia .”
This projection is underpinned by the recent announcement of new power plant constructions under the Large Scale Solar ( LSS ) 4 programme by the Energy Commission of Malaysia .
Solarvest Holdings Berhad , an engineering , procurement , construction and commissioning ( EPCC ) partner in UOB Malaysia ’ s U-Solar programme , was one of the LSS4 successful bidders .
UOB Malaysia also supported two solar power plant projects – the Sinar Kamiri Power Plant located in Sungai Siput , Perak and the Kenyir Gunkul Power Plant situated in Dungun , Terengganu – under the previous LSS programmes .
Ng said : “ Through our U-Solar programme and financing of the Sinar Kamiri and Kenyir Gunkul solar power plants , we aim to encourage greater nation-wide adoption of green technology .
“ This is in line with our commitment to forging a sustainable future for better businesses , lives and livelihoods and communities as we contribute to the nation ’ s long-term economic , social and environmental well-being .” — @ green