[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.
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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.
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