Malaysia: GreenTech's RM3.5b scheme, set up in 2010, to be used up by year-end

Malaysia: GreenTech's RM3.5b scheme, set up in 2010, to be used up by
year-end

Malaysian Green Technology Corp (GreenTech Malaysia) is confident that the
Green Technology Financing Scheme's (GTFS) RM3.5 billion to fund green
projects to avoid 3.16 million tonnes of carbon dioxide (CO2) emissions will
be fully snapped up by year-end.

GreenTech Malaysia CEO Ahmad Hadri Haris said the GTFS has thus far financed
272 green projects amounting to RM2.96 billion since its introduction in
2010. These projects are expected to contribute to the elimination of 3.16
million tonnes of CO2 equivalent, creating 4,645 green jobs and generating
RM5.81 billion in green investments.

For this year, the GTFS will have a remaining of RM500 million to finance
about 30 to 40 green projects.

"Most of these projects we expect them to come from renewable energy,
particularly solar energy. We also saw opportunities for the building sector
to get involved in energy efficiency, as well as transport and waste
management," Ahmad Hadri told reporters at a media briefing yesterday.

He said GTFS will be able to achieve its RM3.5 billion target this year, as
it had in 2013 exceeded its target of RM1.5 billion.

The government will also be extending the scheme for five years with an
additional allocation of RM5 billion in GTFS 2.0, starting 2018, which will
encourage growth in the green technology sector.

Over the years, GTFS has helped Malaysian financial institutions grasp the
prospect of green technology ventures better, resulting in a growing
acceptance among banks to fund new green projects even in the absence of
proven track record. This signals the shift in mindset among conventional
banks to include green impact in their considerations in addition to usual
financial criteria.

Currently GTFS has 28 participating financial institutions. GTFS has also
been recognised internationally for its successful role in spurring green
investments.

Meanwhile Ahmad Hadri, who will be leaving the organisation after four
years, said GreenTech Malaysia continues to lead the nation's green
technology landscape through impactful projects under its four flagships
Green Malaysia Plan, Green Procurement, Electric Mobility and Sustainable
Living.

He said GreenTech Malaysia has been focused on strengthening the company's
foundation and forming the right partnerships to venture into bigger
projects that can create greater socio-economic impact in line with
Malaysia's green agenda.

Under the Green Malaysia Plan Flagship, the organisation has to date
developed 10 green policies and blueprints, including the National Electric
Mobility Blueprint, Kedah Green Agenda, Selangor Green Action Plan as well
as the recently sanctioned Green Technology Master Plan, aimed at guiding
the intended authorities and sectors to incorporate green action plans
within their area of jurisdiction.

Under the Green Procurement Flagship, GreenTech Malaysia has extended the
Government Green Procurement programme to 12 ministries and agencies with
the target to have all ministries participate in the programme by 2017,
collectively achieving 20% of green procurement by 2020.

In the area of Electric Mobility, GreenTech Malaysia has installed 160
ChargeEV stations across the country and delivered 17 Teslas.

Under the Sustainable Living Flagship, GreenTech Malaysia targets to have
all 154 local authorities understand the concept of the Low Carbon Cities
Framework (LCCF) and 52 local authorities to implement the LCCF and produced
their baseline CO2 data by 2020.

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Link to Original Article: http://www.thesundaily.my/news/2193970

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com