Maybank provides Malaysia’s first green loan to support renewable energy company Altervim

The leading Thai conglomerate Charoen Pokphand Group (CP Group) has a renewable energy subsidiary called Altervim. On Monday, Malayan Banking Bhd (Maybank) announced that it will support Altervim’s expansion into Malaysia.

In a statement, Maybank, the only bilateral lender, said that it is financing Altervim’s rooftop solar power generation business with its first green loan, in line with Maybank’s sustainability objectives of promoting the ASEAN energy transition.

Altervim will provide installed solar capacity of up to 20MW in the first phase with Lotus Malaysia’s 28 branches, spanning several locations throughout Malaysia.

Over the course of the projects, this is anticipated to offset 433,958 tons of carbon dioxide (CO2) emissions and produce 24,650,000 kWh of clean energy annually.

“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.

He claims that the financing arrangement with Altervim complements the Bank’s expanding sustainable finance portfolio and is structured in accordance with Maybank’s Sustainable Product Framework.

As a group, Maybank raised MYR 125.46 billion ($29.22 billion) in sustainable finance from 2021 to the first quarter of 2025, surpassing its 2025 goal of MYR 80 billion ($18.63 billion).

According to Altervim’s Chief Financial Officer, Borvorn Pienpongpanich, this green loan from Maybank is a strategic alliance that strengthens our clean energy vision throughout 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.