Latest news with #SustainableProductFramework
Business Times
12 hours ago
- Business
- Business Times
Maybank backs Thailand's CP Group's Altervim with green loan for solar push in Malaysia
[KUALA LUMPUR] Maybank is financing the Malaysian debut of Charoen Pokphand Group's renewable energy arm, Altervim, as the Thai conglomerate expands its clean energy footprint across South-east Asia. Maybank announced on Monday (Jun 23) that it is the sole bilateral lender for Altervim's inaugural green loan, which will fund rooftop solar installations at Lotus's Malaysia's 28 branches. The initial phase will deliver up to 20 megawatts of installed capacity, generating nearly 24.7 million kilowatt-hours of clean energy a year and offset 433,958 tons of carbon dioxide emissions throughout the projects' life cycle. The facility aligns with Maybank's Sustainable Product Framework and supports its broader regional ambition to drive the energy transition across South-east Asia. 'We have a longstanding relationship with CP Group in the region and a shared vision of accelerating the transition to a low-carbon economy,' said John Chong, the group chief executive officer of global banking at Maybank. 'This partnership with Altervim also complements Malaysia's push to increase renewable energy adoption,' he said. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Altervim, which operates under CP Group's extensive energy portfolio, is among several regional players tapping into Malaysia's growing demand for solar solutions as the country targets 70 per cent renewable capacity by 2050. Altervim chief financial officer Borvorn Pienpongpanich said Malaysia is a key growth market for the company and the green financing will help to accelerate carbon savings and reduce energy costs for their clients. The financing facility to Altervim is structured according to Maybank's Sustainable Product Framework, and adds to Maybank's growing portfolio of sustainable finance. As at the first quarter of 2025, the bank had mobilised nearly RM125.5 billion (S$37.8 billion) in sustainable finance, exceeding its RM80 billion target well ahead of the original 2025 deadline.
The Star
12 hours ago
- Business
- The Star
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.
Business Times
12 hours ago
- Business
- Business Times
Maybank backs Thai's CP Group's Altervim with green loan for solar push in Malaysia
[KUALA LUMPUR] Malayan Banking (Maybank) is financing the Malaysian debut of Charoen Pokphand Group's renewable energy arm, Altervim, as the Thai conglomerate expands its clean energy footprint across South-east Asia. Maybank announced on Monday (Jun 23) it is the sole bilateral lender for Altervim's inaugural green loan, which will fund rooftop solar installations at 28 Lotus' Malaysia stores. The initial phase will deliver up to 20 megawatts of installed capacity, generating nearly 24.7 million kilowatt-hours of clean energy a year and offset 433,958 tons of carbon dioxide emissions throughout the projects' life cycle. The facility aligns with Maybank's Sustainable Product Framework and supports its broader regional ambition to drive the energy transition across Asean. 'We have a longstanding relationship with CP Group in the region and a shared vision of accelerating the transition to a low-carbon economy,' said John Chong, group CEO of global banking at Maybank. 'This partnership with Altervim also complements Malaysia's push to increase renewable energy adoption,' said Chong. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Altervim, which operates under CP Group's extensive energy portfolio, is among several regional players tapping into Malaysia's growing demand for solar solutions as the country targets 70 per cent renewable capacity by 2050. Altervim chief financial officer Borvorn Pienpongpanich said Malaysia is a key growth market for the company and the green financing will help to accelerate carbon savings and reduce energy costs for their clients. The financing facility to Altervim is structured according to Maybank's Sustainable Product Framework, and adds to Maybank's growing portfolio of sustainable finance. As at the first quarter of 2025, the bank had mobilised nearly RM125.5 billion (S$37.8 billion) in sustainable finance, exceeding its RM80 billion target well ahead of the original 2025 deadline.
New Straits Times
17 hours ago
- Business
- New Straits Times
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.
