Baiduri Bank has announced its role as the sole financier of Brunei Darussalam’s first large-scale solar photovoltaic power plant, marking a significant step in the Bank’s sustainability journey and the country’s energy transition.

This marks the first financing of its kind for the Bank, highlighting its commitment to aligning business practices with with the Brunei National Climate Change Policy (BNCCP), Nationally Determined Contribution (NDC), and Wawasan Brunei 2035. As Brunei advances its energy transition and low-carbon, climate-resilient ambitions, the Bank is taking a proactive role in enabling progress through responsible financing.

The special moment was commemorated through a facility agreement signing ceremony at the Baiduri Community Space, at the Bank’s headquarters, between Baiduri Bank and Seri Suria Power. Baiduri Bank also presented financial tombstones to representatives of the project partners — Khazanah Satu Sdn Bhd, Serikandi Oilfield Services Sdn Bhd, and Atlantic Blue Sdn Bhd, a wholly-owned subsidiary of Solarvest Holdings Berhad. The ceremony was attended by Guest of Honour Dato Seri Paduka Awang Haji Muhamad Azmi bin Haji Mohd Hanifah, Deputy Minister (Energy) at the Prime Minister’s Office, senior government officials, Baiduri Bank’s management committee, and other key stakeholders involved in the project.

The 30-megawatt (MW) facility in Kampong Belimbing is being developed under a Public-Private Partnership (PPP) model by Seri Suria Power (B) Sdn Bhd — a joint venture between Serikandi Oilfield Services, Khazanah Satu, and Atlantic Blue. The plant will be built on a remediated 32.29-hectare landfill site and is expected to generate over 64,000 megawatt-hours of electricity annually, powering more than 15,500 homes and offsetting an estimated 41,000 tonnes of CO₂ emissions each year. The project recently broke ground and is scheduled to be operational by the end of 2026.

Ti Eng Hui, Chief Executive Officer of Baiduri Bank, in his welcoming remarks, stated, “This is a proud moment for Baiduri Bank — not only because we are the sole financier of this landmark project, but because it represents a meaningful step forward in our sustainability journey. We see this as the beginning of more opportunities to support projects that contribute to the country’s long-term goals of creating a dynamic and sustainable economy.”

“The financial tombstone presented today symbolises more than the close of a deal — it reflects shared ambition, mutual trust, and a commitment to long-term collaboration between public and private sector partners,” he added.

Baiduri Bank is proud to play a leading role in supporting this national milestone. The project directly contributes to Brunei’s goal of increasing the share of renewable energy to at least 30% of total power generation capacity by 2035, as outlined in Strategy 4 of the Brunei National Climate Change Policy (BNCCP), and supports the nation’s broader Nationally Determined Contribution (NDC) target of achieving net zero emissions by 2050. It is a tangible step forward in advancing Brunei’s transition toward a more sustainable, low-carbon future.

This project also reflects Baiduri Bank’s broader strategy to support sustainable development through forward-looking partnerships and responsible financing that align with national priorities. Over the past decade, the Bank has progressively reduced its environmental footprint — from virtualising 95% of its IT workload and implementing energy-efficient data centres, to encouraging paperless banking and introducing biodegradable cards and EV charging stations.

These initiatives are now guided by the Baiduri Greenprint, the Bank’s structured sustainability framework built on three key pillars: People, Process, and Planet. Looking ahead, Baiduri Bank is considering ways to expand its green financing offerings to support the adoption of practical, energy-efficient solutions such as electric vehicles, solar panels, and sustainable home technologies for individuals, households, and businesses seeking to reduce their environmental impact, These efforts reflect the Bank’s intention and continued focus to contribute to a lower-carbon future through responsible financing.

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