Lee Choo Boo, Group Managing Director, ITRAMAS
The growth of renewable energy has changed the way energy businesses operate around the world. It has, in many ways, democratized energy production and consumption. Before the renewable sector became a significant player, the energy business was all about fossil fuel-based big companies and grid-connected power dominating the world. But today, there is an alternate energy market in which thousands of companies, NGOs and social businesses are involved in selling renewable energy products, generating and distributing renewable-based energy. This clean, safe and renewable energy has an enormous potential to keep climate change at bay and improve the environment.
Endorsed with the Global Good Governance Awards – Green Innovation and Solutions in 2020, ITRAMAS Corporation, is a leading company in green and sustainable infrastructure development in Malaysia and the region. The company was established in 1999 with a perceptive vision of building a greener, smarter and safer tomorrow. Headquartered in Kuala Lumpur, Malaysia, it has expanded into multiple sectors which include large-scale renewable energy, energy efficiency, smart city, and electronic manufacturing services. Throughout the years the company has successfully deployed close to RM 2 Billion worth of green & sustainable projects. Group Managing Director of the company, Mr. Lee Choo Boo asserts, “We are proud to say that we are currently the largest solar energy producer in Malaysia with 200MWp in operation.”
Major Contributions to a Greener Future
ITRAMAS has made history by issuing the world’s largest Green Sustainable and Responsible Investment (SRI) Islamic bond (Sukuk) of RM 1 billion to construct the largest solar power project in Southeast Asia. The project portfolio consisted of the development of three 66MWp solar photovoltaic power plants concurrently, at the Malaysian states of Kedah, Melaka, and Terengganu. The project covers a combined land area of almost 600 acres. With the expertise of ITRAMAS, these landmark projects have placed Malaysia on the world map as the leader in green investment. The milestone green SRI Sukuk issuance marks a new beginning for Malaysia’s renewable energy sector, particularly in solar PV power generation. The projects have created up to 3000 jobs and can generate electricity for around 93000 households and reduce carbon emissions by 210000 tonnes annually. ITRAMAS is very proud to help take Malaysia closer to achieving emission reduction agreed upon under the Paris climate agreement.
Spearheaded Green Project Development and Financing for the Industry
The success story of ITRAMAS further strengthens Malaysia’s leading position in the global Islamic finance market. Its innovation is the first jurisdiction to host the issuance of the world’s first green Sukuk. Additionally, this enables the support of innovative financial instruments to accommodate the country’s eco-friendly infrastructure development needs and green financing. Since then, several other developers embarked on green financing, allowing for stronger traction for the green project development in the country.
“We are proud to be a part of this significant achievement for Malaysia and the solar industry in the region as these projects will help develop local supply chains and uplift local communities,” asserts Mr. Lee.
Providing Vertically-Integrated Solutions
ITRAMAS’s current portfolio of services and solutions cover both utility-scale and distributed generation market segments. With a wide range of services, the company is a vertically-integrated solutions provider including power plant development, Engineering, Procurement, Construction & Commissioning (EPCC), and long-term power plant operations and maintenance.
Currently, the innovative company is spearheading a program called SolarSave—an initiative to finance and build distributed generation solar systems for commercial and industrial clients, where they can enjoy low-cost and green electricity at zero initial cost.
Beyond this, ITARAMS also offers energy efficiency services that include research and development of LED products, high-value-add manufacturing, Energy Performance Contracting (EPC), operations and maintenance for public lighting – all highly customizable to suit the needs of every client.
The company has completely dedicated an R&D centre in Penang, Malaysia, focusing on product research & development, project finance, and investment, product manufacturing, project development, design & installation, and operations & maintenance.
“These are amongst our solutions to support the objectives of our clients in increasing the use of sustainable & renewable energy.”
ITRAMAS continues to support the growth of green technology as a new development model to enhance the sustainability and resilience of its clients and the country.
Multiple Awards for its Leading Roles
ITRAMAS is an award-winning company that is consistently pushing its boundaries with innovation and customer satisfaction as its prime concern. Mr. Lee says, “We are very proud to receive excellent feedback and have won numerous awards over the years for our efforts in our spectrums of services.”
The company has been awarded the ‘University of Malaya Research Excellence Award 2014’. It also secured the ‘Malaysia’s Industry and Greentech Awards 2013’ by Malaysia Ministry of Energy, Green Technology & Water. Along with that, it has received ‘Asian Power Awards 2019’, the region’s most prestigious awards in the power industry, for outstanding power plant, initiative or project that made a remarkable contribution to the industry. The company has also been bestowed with the title ‘Power Utility of the Year and Independent Power Producer (IPP) of the Year 2019’ in Malaysia for realizing the largest solar energy portfolio in South East Asia.
Leading Towards Building a Greener, Smarter and Safer Tomorrow
ITRAMAS emphases on innovation and R&D and believes renewable energy is a vast field with scope. The company is now heading towards establishing a global presence with its current project backlog and pipeline of close to 600MWp of renewable energy infrastructure projects under development across the region. It is also actively rolling out full-fledged solutions on Smart City in the areas of urban services, energy, transportation, and utilities. It is currently working on a very exciting Smart City Campus development within University Sains Malaysia through the integration of smart streetlights, e-mobility, telco connectivity, artificial intelligence, and cybersecurity.
“We are proud to have paved the way for the industry towards a greener and smarter future in a fast-growing global green economy, finance and sustainable development agenda. Moving forward, ITRAMAS Corporation is well-positioned to play a crucial role in the future energy mix of the country, to be the key driver in a low carbon economy for Malaysia and our clients, and leading the region towards building a ‘Greener, Smarter and Safer Tomorrow’,” concludes Mr. Lee.