KUCHING: SEDC Energy (SEDCE) and UOB Malaysia have entered into a Memorandum of Understanding (MoU) aimed at enhancing support for businesses in Sarawak and advancing the state’s renewable energy sector.
The MoU enables UOB Malaysia to provide enhanced financing access to SEDCE’s ecosystem of suppliers, vendors, and contractors. Through UOB’s Financial Supply Chain Management (FSCM) Programme, these local enterprises can avail themselves of a comprehensive suite of banking services, including tailored trade finance, Supply Chain Financing, and cash management solutions, to support their working capital and transactional needs.
Additionally, UOB Malaysia will leverage its Sustainable Financing Framework to back SEDCE’s green transition projects, underscoring a shared commitment to Sarawak’s sustainable development. Beyond financing, UOB will collaborate with SEDCE and relevant state agencies to help businesses transition to low-carbon and sustainable practices.
The MoU was exchanged by SEDCE CEO Mr. Robert Hardin and UOB Malaysia CEO Ms. Ng Wei Wei, witnessed by The Right Honourable Premier of Sarawak, Datuk Patinggi Tan Sri Dr. Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg at the Sarawak Electrolyser Assembly – Distribution Facility (SEA-DF) in Demak Laut Industrial Park.
Mr. Hardin stated, “This partnership with UOB cements SEDCE’s position as a key hydrogen player in the region, supporting Sarawak’s clean energy initiatives. We are proud to advance together in this venture, investing in a cleaner future.”
Ms. Ng added, “This MoU marks the start of a significant collaboration between UOB Malaysia and SEDCE, promoting Sarawak’s economic development and green agenda. Our comprehensive financing solutions will assist SEDCE in green transition projects and provide critical financial resources to its supply chain, aiding local businesses in growth and competitiveness. SEDCE and its supply chain can also leverage our UOB Infinity digital banking platform’s Financial Supply Chain Management capabilities to enhance operational efficiency and manage liquidity and financial transactions.”
Sarawak generates 70% of its energy from hydroelectric dams, including Batang Ai, Bakun, and Murum, with the Baleh Hydropower Dam under construction. With ample and affordable hydropower, Sarawak is poised to become a hub for clean hydrogen production for both domestic use and export. Clean hydrogen is a versatile energy carrier that can decarbonize various energy-intensive and hard-to-abate sectors, such as transportation and industrial processes requiring thermal heat, like chemicals and steel.
