KUALA LUMPUR: The government will help green technology and renewable energy (RE) players to access better funding as financing cost is not cheap for such initiatives and it tend to have long gestation period.
Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said at present the industry is not seeing much enthusiasm from the banking institutions as it is still a nascent market.
According to Yeo, the loan interest rates are quite high and investors would do better if they can have access to lower loan repayment rates.
"My team will meet with Bank Negara Malaysia (BNM), banking institutions and investment banks next month to discuss this," she said, after officiating at the Renewable Energy -Solar Energy Symposium 2018 here today.
Also present were Malaysia-Germany Chamber of Commerce and Industry (MGCC) chief executive officer Daniel Bernbeck and German Ambassador to Malaysia Nikolaus Graf Lambsdorff.
The symposium, organised by MGCC saw nine experts and solar technology-related technology providers share their expertise and experience with Malaysian industry players.
Yeo aspires for renewable energy investors to gain easier access to cheaper funding so as to reduce reliance on government subsidies.
"I see this industry needs to get capital from the private and capital markets to ensure they are more competitive in the market in the future," she said.
Meanwhile, Yeo said the government would announce a clear policy and legal framework for the renewable energy industry beginning 2019.
"At the moment, we seek public feedback and will review issues before we lay out this plan for 2019," she said.
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