LBS Bina secures RM88.4m green financing for solar farm project

PETALING JAYA: Property developer LBS Bina Group Bhd's special purpose vehicle, Suria Hijauan Sdn Bhd, has secured a RM88.4 million green financing facility from Alliance Bank Malaysia Bhd to fund the engineering, procurement, construction and commissioning (EPCC) costs for its maiden 43 MWp solar farm project.
The project, which is under the Corporate Green Power Programme, is located in Senawang, Negeri Sembilan, and is scheduled for completion by the end of this year.
The solar farm is expected to deliver stable, recurring revenue, thus enhancing long-term earnings resilience and underscoring LBS's commitment to sustainable growth.
The solar farm project is expected to generate approximately 53,000 MWh of clean energy annually, effectively offsetting about 35,000 tonnes of carbon emissions. Atlantic Blue Sdn Bhd, a subsidiary of Solarvest Holdings Bhd, was appointed as the EPCC contractor under a RM104 million contract, leveraging its expertise in delivering large-scale solar projects.
LBS group executive chairman Tan Sri Lim Hock San said, 'This green financing marks an important milestone for LBS as we diversify into renewable energy, reinforcing our commitment to sustainability.
'Securing this credit facility from a reputable bank like Alliance Bank highlights the strong potential of our renewable energy venture and our capacity to expand our initiatives within this sector. This support reflects confidence in our strategic direction and financial strength, while also facilitating the successful execution of this project.'
He added that this initiative not only resonates with their goal of creating a positive environmental impact, it also strategically complements their core property development business by integrating future product offerings with renewable energy solutions.
Alliance Bank Group CEO Kellee Kam said they believe financial institutions have a critical role to play in advancing sustainable development and are honoured to partner with LBS, a company whose values and vision closely align with their own.
He added, 'Today's announcement is not just the launch of a project – it marks the beginning of a journey and a cause we are proud to be part of.'

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