Kuala Lumpur, 11 November 2025 – In a move to support the adoption of renewable energy transition, Alliance Bank Malaysia Berhad (Alliance Bank or the Bank) and AQ Energy signed a Memorandum of Understanding (MoU) to expand solar and battery solutions to SMEs.
The collaboration aims to drive the adoption of solar and Battery Energy Storage System (BESS), an emerging solution that represents the next evolution of solar energy. This will benefit SMEs and corporates particularly in sectors with high energy consumption, as BESS allows businesses to store excess solar energy generated during the day for use at night, while also helping to manage peak electricity demand during production hours. In essence, BESS can be seen as the next generation of solar technology.
The partnership presents a strong synergy as AQ brings its technical expertise in delivering solar and battery solutions, while Alliance Bank supports the financing needs of businesses keen to embrace cleaner, more efficient energy systems. Together, both parties aim to accelerate the transition towards sustainable energy solutions in Malaysia
The partnership targets the joint development, implementation, and financing of integrated solar and BESS projects with a cumulative capacity of up to 30MW and a total project value of up to RM100 million.
Alliance Bank, known for its comprehensive sustainable banking propositions, will offer green financing solutions and value-added advisory to help businesses align with Malaysia’s ESG and renewable energy goals. AQ Energy, on the other hand, will provide end-to-end solar and BESS solutions to the Bank’s clients, enabling them to reduce carbon emissions and improve energy efficiency.
Alliance Bank’s Chief Sustainability Officer, Roy Heong said, “This collaboration is part of our broader Sustainability Impact Programme (SIP), which supports clients in their transition journey through financing and beyond banking solutions.”
By working with AQ Energy, we can offer clients not only the capital but also the technical expertise needed to implement impactful renewable energy projects.” he added.
AQ Energy is a registered solar service provider under the Sustainable Energy Development Authority (SEDA). Its Chief Executive Officer, Hatim bin Salleh, shared, “We are delighted to work with Alliance Bank to improve the accessibility of Solar PV and Battery solutions to our residential, commercial and industrial customers. With this collaboration, it enables our customers to adopt technologies to improve cost efficiencies whilst supporting the National Energy Transition Roadmap (NETR)’s objective of achieving 70% renewable energy mix by 2050.”
The partnership will also include joint initiatives such as project identification, ESG-aligned advisory, and capacity-building efforts to promote greater awareness and adoption of renewable energy solutions.
Alliance Bank’s commitment to sustainability has been recognised by industry peers, having recently won the Collaborative Partnership Award and Stakeholder Engagement Award at the ESG Business Awards 2025 — a testament to its leadership in driving sustainable growth through strategic partnerships.
