Sunway Property senior management team and ENGIE South East Asia management team at the Build, Own, Operate and Transfer Agreement Signing Ceremony held at Sunway Resort Hotel, Malaysia.
Singapore – 27 July 2022 – ENGIE Services Malaysia Sdn Bhd (ENGIE) a regional leader in low carbon energy has entered into a Build-Own-Operate-and-Transfer (BOOT) Agreement through ENGIE-SUNWAY DCS Sdn Bhd (ENGIE-SUNWAY) for a district cooling system destined for Sunway Property’s new integrated waterfront lifestyle hub known as Sunway South Quay Commercial Precinct 2 (CP2).
ENGIE-SUNWAY is a 40% owned associated company of Sunway SK Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway Construction Group Berhad (SunCon).
ENGIE-SUNWAY to implement district cooling system at South Quay CP2 mixed-use development for a period of 25-year.
The Sunway South Quay CP2 development comprises of 24 and 22-storey office blocks, a 5-storey retail component, and an 11-storey university block including the Sunway University’s Performing Arts Centre with Gold and Platinum LEED and GreenRE certifications, worth RM 755 million in gross development value (GDV).
ENGIE's district cooling system offers the most efficient solutions to provide air conditioning to Southeast Asian cities and urban areas. It elevates energy efficiency significantly, enabling supply to be scaled in line with demand. Contracted for 25 years, the South Quay CP2 solution will help lower operating costs for Sunway Property while effectively reining in carbon emissions, benefiting the air quality while furthering Malaysia's sustainability journey in line with its commitments under the United Nations Sustainable Development Goals.
"ENGIE is very excited by this new partnership with Sunway. This first jointly developed low carbon solution will help South Quay CP2 save close to 20% energy and CO2 on its air conditioning needs. I’m convinced that the combination of both our organization’s strengths will enable us to accelerate the deployment of such solutions across Malaysia and help drive the energy transition agenda of the country, " said Thomas Baudlot, CEO Energy Solutions APAC and Country Head for Southeast Asia.
Implementing the district cooling solution will see a cooling system that has a capacity of more than 7,000 refrigeration tonnes (RT) put in place. The project will operate on the BOOT model for a greenfield mixed-use development.
This ENGIE-SUNWAY partnership will also bring a total end-to-end value proposition for district cooling solutions, covering engineering, financing, construction, operation, and maintenance of such infrastructures, both for greenfield and brownfield urban development projects.
Sunway Property Central Region Senior Executive Director Chong Sau Min said, "The key to accelerating urban transformations and implementing successful solutions for environmental issues lies in collaborating with partners who have a great track record in implementing green energy solutions. As guided by our chairman’s vision, sustainability has been long embedded in Sunway’s DNA since its inception. We see it as a way of doing business more than it being a trend as we believe in doing well by doing good. As the Master Community Developer, we are committed to reducing our carbon footprint through improved energy efficiency and integration of renewable energy sources; we race to a net zero carbon future, we hope to lead by example and encourage many more commercial and industrial districts in Malaysia to follow suit. With the worsening climate crisis, all societies need to raise the bar quickly, and this joint venture proves that Sunway is seriously committed to slowing down the worst impacts of the crisis. The project will accelerate the adoption of district cooling system technology in the future."
