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The exchange was witnessed by YAB Datuk Amar Haji Fadillah bin Haji Yusof, Deputy Prime Minister of Malaysia and Minister of Energy Transition and Water Transformation (2nd from right); Dr Tan See Leng, Minister for Energy, Trade and Industry (Energy and Industry), Singapore (left); and YB Dato’ Haji Ramlee bin Haji A Rahman, President & Chief Executive (Group), Permodalan Darul Ta’zim (right).
SINGAPORE, 26 October 2026 – DBS Bank Ltd. (“DBS”), the International Finance Corporation (“IFC”), a member of the World Bank Group focused on the private sector, and Malayan Banking Berhad (“Maybank”), together with project sponsor Ditrolic Energy Holdings Sdn. Bhd. (“Ditrolic Energy”), today exchanged the Southern Johor Renewable Energy Corridor (SJREC) Project Bankability and Financing Framework Memorandum at the 19th Singapore International Energy Week (SIEW) 2026.
The memorandum sets out a framework for collaboration to strengthen the bankability and financing readiness of SJREC, advancing Malaysia-Singapore cooperation in renewable energy.
The exchange was witnessed by YAB Datuk Amar Haji Fadillah bin Haji Yusof, Deputy Prime Minister of Malaysia and Minister of Energy Transition and Water Transformation; Dr Tan See Leng, Minister for Energy, Trade and Industry (Energy and Industry), Singapore; and YB Dato’ Haji Ramlee bin Haji A Rahman, President & Chief Executive (Group), Permodalan Darul Ta’zim, representing the Johor State Government.
SJREC is a USD 6 billion solar and battery storage development in Johor, co-developed by Ditrolic Energy and Permodalan Darul Ta’zim (PDT), the Johor State Government’s strategic investment arm. Ditrolic Energy has also entered into a collaboration agreement with IFC in relation to SJREC. In August 2026, Ditrolic Energy’s wholly owned subsidiary, Southern Solar Alliance Pte. Ltd., was awarded Conditional Approval by Singapore’s Energy Market Authority (EMA) to import up to 600 MWac of renewable electricity from Johor to Singapore. The project is now progressing towards contracting, licensing, permitting and Final Investment Decision (FID).
The memorandum brings together multilateral and commercial financing institutions to develop a dedicated financing and bankability framework for a Malaysia-Singapore cross-border renewable electricity project. Under this framework, the parties will form a working group to identify the key requirements for SJREC’s bankability, covering regulatory pathways, interconnection, offtake and risk allocation, environmental and social standards, and financing structure. The group will also formulate recommendations to enhance SJREC's financing readiness and overall bankability.
Beyond SJREC, the framework aims to provide a practical reference for structuring and financing future cross-border projects under the ASEAN Power Grid. By bringing multilateral and commercial lenders from both source and destination markets together early, the framework aims to reduce execution risk, shorten the path to financial close and mobilise private capital.
Lim Wee Seng, Group Head of Energy, Renewables & Infrastructure, Project Finance, Strategic Advisory and Sustainability, DBS, said:
“Energy security is fundamental to the region’s economic growth and a landmark project such as the Southern Johor Renewable Energy Corridor will not only fulfil the energy demand but also support the region’s transition towards a low carbon economy. DBS’ sustainable financing solutions and platform provide a foundation for which stakeholders can engage, collaborate and create viable pathways for long-term project development and financing readiness. As Asia-Pacific’s leading project finance advisor and arranger of financing for landmark energy and infrastructure projects, DBS is uniquely positioned to support SJREC's development through our suite of financing solutions, global connectivity and execution expertise.”
Vikram Kumar, Director for Infrastructure and Natural Resources in Asia Pacific, IFC, said:
“Sustainable infrastructure is key to supporting economic growth and creating jobs, while advancing the energy transition. The Southern Johor Renewable Energy Corridor is a project that allows us to meet these priorities of growth, jobs, and productivity while contributing to the broader ASEAN power grid vision. IFC welcomes the opportunity to contribute our expertise in project development, financing, governance and environmental and social considerations to mobilise private capital and deliver a project of this scale to a successful and sustainable financial close.”
Dato’ John Chong, Group Chief Executive Officer, Global Banking, Maybank, said:
“Reliable access to renewable energy is becoming increasingly important in attracting investments, particularly in energy-intensive industries. SJREC has the potential to connect Johor’s renewable energy resources with businesses in Malaysia and Singapore, supporting decarbonisation and strengthening the Johor-Singapore Special Economic Zone’s appeal as an investment destination. With our presence in both markets, Maybank is well positioned to support this cross-border initiative through our regional financing capabilities. This also aligns with our ROAR30 strategy commitments, including our refreshed target to mobilise RM300 billion in sustainable finance and RM100 billion for new economy initiatives by 2030.”
Tham Chee Aun, Group Chief Executive Officer of Ditrolic Energy, said:
“With close to 90% of our green energy already seeing capacity booking interest, our focus now is a smooth path to financial close. By bringing DBS, IFC and Maybank to the table well ahead of FID, and working closely with governments, regulators and offtakers, we hope to set a reference framework for financing future ASEAN Power Grid projects.”
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About Ditrolic Energy
Ditrolic Energy Holdings is a renewable clean energy developer and infrastructure platform focused on large-scale solar, energy storage and green utility solutions across Southeast Asia. Ditrolic is backed by a global blended-finance investment platform managed by a leading international asset manager, which mobilises capital from development finance institutions (DFIs) worldwide alongside long-term private sector investors, including insurance companies and banking institutions. As one of the leaders in the industry, Ditrolic Energy provides fully integrated energy infrastructure and solutions for various key sectors, including data centres, high-tech manufacturing, utilities, aviation, ports, educational institutions, healthcare and the government sector.
For more information, visit www.ditrolicenergy.com.
About DBS Bank
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best AI Bank” by Global Finance, “World’s Best Digital Bank” by Euromoney and the winner of multiple digital assets awards. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, wealth, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About The World Bank Group
The World Bank Group has a bold vision: to create a world free of poverty on a livable planet. In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global challenges. For more information, please visit www.worldbank.org, www.miga.org, and www.ifc.org.
About Maybank
Maybank is among Asia’s leading financial groups and Southeast Asia’s fourth largest bank by assets, with a significant global workforce and an extensive network spanning ASEAN and key international financial centres. Guided by its ROAR30 strategy, Maybank continues to Humanise Financial Services through values-based offerings that deliver exceptional customer experience, drive positive societal impact and power the real economy. The Group provides a comprehensive range of financial services across consumer and corporate banking, investment banking, Islamic banking, insurance and takaful, and asset management.
Maybank has been recognised by Euromoney's Awards for Excellence 2026 as the Best Bank for Corporate Responsibility in the World, Best Bank for ESG in Asia, Best Bank for D&I (Diversity & Inclusion) in Asia, Best Bank for Large Corporates in both ASEAN and Malaysia, and Best Bank in Malaysia.
For more information, visit www.maybank.com.
Media Contacts
Marketing & Communications, Ditrolic Energy
Lana Asyikin
+60 17-363 7097
lana.asyikin@ditrolicenergy.com
Group Marketing & Communications, DBS
Jolene Ang
+65 8468 5237
joleneang@dbs.com
Communications and External Relations, World Bank Group
Jeannette Goon
+60 16-263 0964
jyuet@worldbankgroup.org
Communications – Global Banking, Maybank
Noelle Lim
noelle.lim@maybank.com



































