Malayan Banking Bhd (Maybank) announced Monday its support for Altervim, the renewable energy unit of Thailand’s leading conglomerate Charoen Pokphand Group (CP Group), in its expansion into Malaysia.
As the sole bilateral lender, Maybank said in a statement that it is providing Altervim’s maiden green loan to finance its rooftop solar power generation business, aligning with Maybank’s sustainability goals of driving energy transition across ASEAN.
Spanning multiple sites across Malaysia, Altervim will deliver installed solar capacity of up to 20MW in the initial phase with Lotus’s Malaysia’s 28 branches.
This is expected to generate 24,650,000 kWh of clean energy per year and offset a total of 433,958 tons of carbon dioxide (CO2) emissions throughout the lifecycle of the projects.
“We have a long standing 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 increasing the renewable energy mix,” said John Chong, Group Chief Executive Officer, Global Banking of Maybank.
According to him, 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.
It is noted that from 2021 to 1Q 2025, Maybank as a group across the region mobilized MYR 125.46 billion ($29.22 billion) in sustainable finance, exceeding its MYR 80 billion ($18.63 billion) target by 2025.
Borvorn Pienpongpanich, the Chief Financial Officer of Altervim, said 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,” he added.