Alliance Bank and AQ Energy Accelerate SME Adoption of Solar and Battery Solutions in Malaysia

In a significant push towards renewable energy adoption, Alliance Bank Malaysia Berhad and AQ Energy have signed a Memorandum of Understanding (MoU) to expand solar and Battery Energy Storage System (BESS) solutions for small and medium-sized enterprises (SMEs).

This partnership, announced in November 2025, aims to facilitate sustainable energy transitions within the SME sector by combining AQ Energy’s technical expertise with Alliance Bank’s green financing capabilities.

Image Credit: Business Today

The collaboration targets projects with a combined capacity of up to 30MW and a total project value of RM100 million. BESS technology allows businesses to store excess solar power generated during the day for use at night or during peak demand, enhancing energy efficiency and carbon emission reductions—offering a next-generation solution beyond traditional solar power.

Solar Energy Storage. Image Credit: AMECO Solar

Alliance Bank will provide specialised green financing and advisory services under its Sustainability Impact Programme (SIP), aligning with Malaysia’s Environmental, Social, and Governance (ESG) goals. AQ Energy, a registered provider under the Sustainable Energy Development Authority (SEDA), commits to delivering end-to-end solar and battery solutions, improving accessibility for the commercial and industrial sectors.

“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.”

-- Roy Heong, Alliance Bank’s Chief Sustainability Officer

The partnership also encompasses joint efforts in project identification, ESG-focused advisory services, and capacity-building initiatives aimed at increasing awareness and uptake of renewable energy technologies. Alliance Bank’s dedication to sustainability has been recognized within the industry, earning the bank both the Collaborative Partnership Award and Stakeholder Engagement Award at the ESG Business Awards 2025.

This initiative exemplifies the critical role of strategic partnerships in overcoming barriers such as capital access and technical complexity, especially for SMEs, which form the backbone of Malaysia’s economy. By facilitating the transition to sustainable energy, the collaboration not only supports climate action but also enhances the competitiveness and resilience of local businesses.

With growing awareness and adoption of ESG principles among Malaysian SMEs, efforts like this could serve as a model for integrating sustainability into business operations nationwide.

Read the original press release here.