KUCHING (June 7): UOB Malaysia has signed a memorandum of understanding (MOU) with SEDC Energy (SEDCE) to support its supply chain and green transition projects in Sarawak.

SEDCE operates under the Sarawak Economic Development Corporation, which is a wholly-owned government-linked company of the state. It has developed the first public hydrogen refuelling station in Sarawak.

UOB Malaysia will leverage its sustainable financing framework to support SEDCE’s green transition projects, while also working with other relevant state agencies to help businesses transition to more sustainable practices in Sarawak.

“The partnership with UOB solidifies SEDCE’s stand as one of the hydrogen players in the region and plays a role towards supporting Sarawak’s clean energy initiatives. We are proud to be moving forward as one in this new business, which will be an investment for a cleaner future,” said Robert Hardin, CEO of SEDCE.

Sarawak is gearing up to increase its supply of renewable energy, especially in producing green hydrogen. Prime Minister Datuk Seri Anwar Ibrahim said in March that Sarawak will become a major renewable energy hub in Southeast Asia, supplying energy for domestic use and for export.

An agreement for the Sarawak H2 Hub was signed in February to become the sole supplier of green hydrogen for downstream facilities in the Bintulu division area, managed by a joint venture company formed by Gentari and SEDCE.

“The MOU represents the beginning of a significant collaboration between UOB Malaysia and SEDCE to support Sarawak’s economic development and green agenda,” said Ng Wei Wei, CEO of UOB Malaysia.