KUALA LUMPUR: Ditrolic Solar Group's subsidiary Ditrolic Energy Solution Sdn Bhd has secured a RM70 million loan from Malayan Banking Bhd (Maybank) for its SunLease programme in Malaysia.
The loan will be used to fund Ditrolic's SunLease programme to build and install 30 megawatts of rooftop solar photovoltaic (PV) systems to generate cheaper electricity for consumers in Malaysia.
Ditrolic Solar chief executive officer Tham Chee Aun said the financing demonstrated the confidence of Maybank in renewable energy industries and in Ditrolic Solar as a player in the energy sector.
It is also an important step in the advancement of Ditrolic Solar's mission to deliver affordable and clean energy to customers.
"We are delighted that Maybank is funding us for this innovative programme that will empower consumers to take control of the price of their energy requirements," he said in a statement today.
Tham said Maybank has strong sustainability goals and the loan given reflected the bank's commitment towards funding the company's clean energy project.
Under the programme, local consumers can now buy solar generated electricity from Ditrolic Solar at a lower rate than the current utility tariff.
Maybank Global Banking group chief executive officer Datuk Muzaffar Hisham said the bank fully supports the transition to renewable energy given the significant benefits communities the environment.
He said the financing fitted in well with the bank's sustainability agenda, anchored on its mission of humanising financial services.
"We believe the renewable energy sector has immense potential given the increasing demand for environmentally friendly products and services globally.
Ditrolic Solar has pipeline projects of more than 150MW and has signed up companies from various industries such as manufacturing, airports, data centres, shopping malls, universities and schools as its electricity customers.
The solar power generated from the solar projects can supply clean energy to power about 12,000 typical homes and reduce more than 28,000 tonnes of CO2 emission every year.