Kuala Lumpur, October 13, 2022: Today marks the launch of ITRAMAS Corporation Sdn. Bhd. (ITRAMAS) and Burj Energy International Management Limited, UAE (Burj)’s Distributed Generation Green Energy Financing Platform as the first project financed by the joint-venture goes live. The joint-venture between ITRAMAS and Burj aims to accelerate growth and promote Sustainable and Affordable Green Energy, in-line with the Government’s commitment to reduce carbon emissions, and eventually develop a global portfolio of Green Energy projects under Burj-ITRAMAS’ Financing Platform.
Burj-ITRAMAS provides financing for institutions and corporate businesses in Asia to adopt Renewable Energy and Energy Efficiency solutions at a lower cost. The joint-venture combines the technical expertise of ITRAMAS, the leading Renewable Energy and Greentech player in the market, with Burj’s international distributed energy development and capital market track record. The highlight of the Burj-ITRAMAS collaboration is the inclusion of financing and mitigation of technology, construction, commissioning and operational risks for such installations, a significant approach which greatly helps businesses that would like to adopt Green Energy and Practices without having to directly commit the financial resources to do so via banking or loaning.
In this model, Private Power Purchase Agreements (PPA) are signed between the business owner and Burj-ITRAMAS, where the business owner buys electricity directly from Burj-ITRAMAS. Burj-ITRAMAS will operate and manage the Green Energy generation system for the entire duration of the PPA.
A 501 kWp rooftop solar PV system was installed at World Trade Centre Kuala Lumpur (WTCKL) as the first project financed by Burj-ITRAMAS. It will produce up to 650,000 kWh of clean energy per year and cut CO2 emissions by about 500 metric tonnes per year, or more than 10,000 tonnes over the next 30 years.
“WTCKL is proud to be the first World Trade Centre to be powered by Green Energy. There are several benefits to employing Green Energy sources for the venue, including reduced emissions, cheaper energy expenses, greater marketing possibilities, and so on. The environmental effects of these sources should not be neglected. Industrial collaboration is the only strategy that can help us advance.” Dato’ Sri Dr. Hj. Irmohizam bin Haji Ibrahim, Group Managing Director of World Trade Centre Kuala Lumpur, also added, “We invite other industry players to subscribe to this great platform. I truly believe that the Burj-ITRAMAS team could take this sustainable movement to a higher level for benefit of all”.
“Malaysia continues to progress towards an economically prosperous future and we are delighted to partner with ITRAMAS and use our joint expertise, experience and technical knowhow to play a proactive role in helping Malaysia achieve its net zero commitments,” commented Mr. Saad Zaman, CEO of Burj Energy.
Welcoming the launch of the Green Energy Financing Platform and the co-development of the WTCKL project with Burj, Mr. Lee Choo Boo, CEO of ITRAMAS said, “We are pleased to have Burj join us in our long-term commitment to reduce carbon footprint, starting from Malaysia. ITRAMAS is thrilled to further our contributions to Malaysia’s Green Energy transition and continue to realise our green ambitions’’.