13 hours ago
Maybank extends first green loan to fuel Charoen Pokphand's RE expansion in Malaysia
(Seated) Goh Sin Tat, managing director of corporate banking at Maybank; and Borvorn Pienpongpanich, CFO of Altervim Company Limited; with (standing) Md Farid Kairi, deputy group CEO, global banking of Maybank; and Teerapong Rojthip, CFO of Charoen Pokphand Malaysia
KUALA LUMPUR: Malayan Banking Bhd (Maybank) announced it is providing financing to the rooftop solar power regeneration business of Altervim, the renewable energy unit of Thai conglomerate Charoen Pokphand Group.
The banking group said it is providing Altervim its maiden green loan for the solar business, which is in line with the group's sustainability goals of driving energy transition across Asean.
In the initial phase of its expansion in Malaysia, Altervim will deliver installed solar capacity of up to 20MW with Lotus's Malaysia's 28 branches.
This is expected to generate 24.65 million kWh of clean energy per year and offset a total of 433,958 tonnes of CO2 emissions
throughout the lifecycle of the projects.
"We are proud to support Altervim's foray into Malaysia, while contributing to the government's energy transition agenda to
increasing 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," said Maybank global banking group CEO Datuk John Chong in a statement.
From 2021 to 1Q25, Maybank as a group across the region
mobilised RM125.46bil in sustainable finance, exceeding its RM80bil target by 2025.
Altervim chief financial officer Borvorn Pienpongpanich said Malaysia is one of its key growth markets, with the facility enabling it to expand faster, deliver real carbon savings and help businesses reduce their energy costs with green energy.
