Maybank supports CP Group's Altervim with first green loan in Malaysia
KUALA LUMPUR: Maybank is supporting Altervim, the renewable energy arm of Thailand's Charoen Pokphand Group (CP Group), as it makes its debut in Malaysia with its first green loan in the country.
As the sole bilateral lender, Maybank is financing Altervim's rooftop solar initiative, reflecting the bank's broader commitment to driving the energy transition and sustainability agenda across Asean.
In the initial phase, solar panels will be installed across 28 Lotus's Malaysia outlets, delivering up to 20 MW of installed capacity. The project is expected to produce 24.65 million kWh of clean energy annually and reduce 433,958 tonnes of CO₂ emissions over its lifetime.
Datuk John Chong, group chief executive officer (CEO) of Global Banking at Maybank, said, "We have a longstanding relationship with the CP Group in the Asean region and a shared vision of accelerating the transition to a low-carbon economy. We are proud to support Altervim's foray into Malaysia while contributing to the government's energy transition agenda to increase the renewable energy mix. The financing facility to Altervim is structured according to Maybank's Sustainable Product Framework and adds to the bank's growing portfolio of sustainable finance."
As of the first quarter of 2025, Maybank has mobilised RM125.46 billion in sustainable finance across the region, surpassing its original RM80 billion target set for 2025.
Borvorn Pienpongpanich, the chief financial officer of Altervim, said the facility marks a key milestone for the company.
"This green loan from Maybank represents a strategic partnership that empowers our clean energy vision across the region. Malaysia is one of the key growth markets for Altervim, and this facility enables us to expand faster, deliver real carbon savings, and help businesses reduce their energy costs with green energy. We value Maybank's strong support and look forward to working together in building a more resilient and sustainable future."
The project is part of both companies' shared commitment to accelerating decarbonisation and promoting sustainable development across Southeast Asia.
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