SIX GREENTECH PROJECTS GET FINANCING WORTH US$32.75 MLN

PUTRAJAYA, Aug 12 (Bernama) -- Six greentech projects have secured financing
approval worth RM104.8 million (US$32.75 million) under the Green Technology
Financing Scheme (GTFS).

Energy, Green Technology and Water Minister Peter Chin said the highest
disbursement was RM49.5 million (US$15.46 million) for a mini hydro project in
Kelantan.

He said that of the six projects approved for financial assistance, three
were from the energy sector while the remaining three from the water and waste
management sector.

"They are committed to reduce carbon dioxide emission up to 114,641 tonnes
during operation," he said.

GreenTech Malaysia which was appointed as the conduit for GTFS applications,
has received 60 applications so far.

Chin said 43 applications had passed the technical evaluation and awarded
the green certificate but 17 applicants did not fulfill the criteria set
by the technical committee.

He said the six approved for GTFS funding were among the 43.

"The total project cost of investments for the six projects is RM161 million
(US$50.31 million) while the total project cost of investments for the 43
projects is RM1.12 billion (US$350 million)," he said.

Most GTFS applicants were from both the energy and water and waste
management sectors while the rest were from both the transportation and
building sectors with one application respectively.

Malaysia is committed to reduce its carbon dioxide emission to 40 per cent
by the year 2020 compared to the 2005 levels, subject to assistance from
developed countries.

United Nations data shows Malaysia's carbon emissions in 2006 stood at 187
million tonnes, or 7.2 tonnes from each Malaysian.

Thus, when tabling Budget 2010, Prime Minister Najib Razak had announced the
establishment of the fund amounting to RM1.5 billion (US$468,000) as effort to
improve the supply and utilisation of green technology.

The scheme could benefit companies that are producers and users of green
technology.

As a sign of commitment, the government will bear two per cent of the total
interest/profit rate.

In addition, the government will provide a guarantee of 60 per cent on the
financing amount via Credit Guarantee Corp Malaysia Bhd, with the
remaining 40 per cent financing risk to be borne by participating financial
institutions.

The scheme is expected to provide benefits to more than 140 companies.
-- BERNAMA


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