KUALA LUMPUR : Maybank has extended its first green loan in Malaysia to Altervim, the renewable energy arm of Thailand’s Charoen Pokphand (CP) Group, marking a significant step in the bank’s regional sustainable finance strategy.
Serving as the sole bilateral lender, Maybank is financing Altervim’s rooftop solar initiative as the company enters the Malaysian market. This collaboration underscores Maybank’s commitment to supporting the energy transition and advancing the sustainability agenda throughout ASEAN.
In its initial rollout, the project will see solar photovoltaic systems installed across 28 Lotus’s Malaysia retail outlets, with a targeted installed capacity of up to 20 megawatts (MW). The initiative is projected to generate approximately 24.65 million kilowatt-hours (kWh) of renewable energy annually and reduce an estimated 433,958 tonnes of carbon dioxide emissions over the course of its operational life.
Datuk John Chong, Group Chief Executive Officer of Global Banking at Maybank, reaffirmed the bank’s longstanding relationship with CP Group and its aligned vision for a low-carbon economy.
“We are proud to support Altervim’s market entry into Malaysia while also contributing to the national energy transition agenda to enhance the renewable energy mix,” he said. “The financing facility, structured under Maybank’s Sustainable Product Framework, represents a strategic addition to our growing sustainable finance portfolio.”
As of the first quarter of 2025, Maybank has mobilised RM125.46 billion in sustainable finance across the region, exceeding its original RM80 billion target set for the full year of 2025.
Borvorn Pienpongpanich, Chief Financial Officer of Altervim, described the green loan as a strategic milestone in the company’s regional expansion.
“This partnership with Maybank strengthens our ability to scale clean energy deployment in Malaysia, one of our key growth markets,” he said. “It enables us to deliver measurable carbon reductions and support businesses in managing energy costs sustainably. We value Maybank’s support and are committed to building a resilient and sustainable future together.”
The project is emblematic of both organisations’ shared commitment to accelerating decarbonisation and fostering sustainable development throughout Southeast Asia.
-NST
