Selangor’s prominent conglomerate, Worldwide Holdings Berhad (WHB), has once again been honoured by The Asset, receiving The Asset Triple A Sustainable Infrastructure Awards 2024 for Renewable Energy Deal of the Year under the Waste-to-Energy (WTE) category for Malaysia. The award was presented at The Asset’s 25th Anniversary Celebratory Gala Dinner at Four Seasons Singapore. This prestigious award recognizes the syndicated green financing of up to RM999 million (the “Facility”) in relation to the development of Worldwide Waste-to-Energy (WTE) Phase 1 (the “Project”) spearheaded by WHB in Jeram, Selangor.
Provided by three financial institutions and confirmed by the second-party opinion provider RAM Sustainability as an eligible green project, the facility primarily funds the total cost of the project, which is part of Selangor state’s broader Integrated Solid Waste Management Master Plan and Selangor First Plan (RS-1). Currently in its construction stage, the project is set to be the largest and most modern WTE project in Malaysia upon completion, supporting Selangor’s green agenda through its capability to generate about 52.0 MW of green energy from processing up to 3,000 tonnes of municipal solid waste per day.
Commenting on the award, WHB Group Chief Executive Officer, Datin Paduka Norazlina Zakaria, said, “We are honoured to once again be recognized by The Asset Triple A Awards for WHB’s role and commitment to sustainable and green energy projects in Malaysia. This follows our previous win in 2022 for Power/Utilities Deal of the Year for our 1,200 MW Combined Cycle Gas Turbine Power Plant in Pulau Indah, Selangor, which is set to begin commercial operations soon.”
Norazlina also expressed her gratitude to the project financiers, noting that this achievement proves the viability and promising results of green projects facilitated by public-private partnership (PPP) schemes, such as the Worldwide WTE Jeram. She emphasized that Worldwide Holdings’ participation in such a landmark transaction would not have been possible without the unwavering trust placed in the Group by the financial institutions.
“Leading the development of this project is indeed one of the hallmarks of WHB’s role in environmental management services in Selangor for more than 30 years. Aside from being recognized as one of the high-impact projects under RS-1, it also serves as a long-term solution to waste management, reducing the use of land space for landfilling activities and 95% of the average volume of waste currently managed through conventional landfill disposal,” added Norazlina.
At maximum operating capacity, the Worldwide Jeram WTE is expected to reduce about 2,750 tonnes of carbon dioxide emissions per day and over 600 acres in landfill footprint over the next 30 years. Aligned with WHB’s ESG agenda aspirations, this project will be equipped with advanced international-standard technologies, such as a moving grate and stoker system and an airtight waste bunker with negative pressure, ensuring the project’s clean, sustainable and environmentally friendly operations.
The Asset’s prestigious Triple A Country Awards honour banking, finance, treasury and capital markets industry players from each country globally, including the Asia region, for their excellence and contributions in their respective fields and project ventures. The awards are adjudicated by The Asset’s board of editors and supplemented by client interactions generated from in-depth conversations using data analytics produced by Asset Benchmark Research. The Asset Triple A Sustainable Infrastructure Awards shine the spotlight on this sector, supporting the importance of sustainable infrastructure to the region’s future.