Standard Chartered Clinches Top Award for Green Capital Funding
Bank recognised for its capabilities in financing renewable energy
Kuala Lumpur, 18 October 2013
– Standard Chartered Bank Malaysia has been recognised for its support of ecological sustainability when it landed the Greentech Financial Institution Award 2013 for Green Capital Funding at the 2nd Malaysia Greentech Awards 2013.
The Bank is the first in the country to win the award in recognition of its recent RM134 million loan facilities for two solar projects,one of which will be the largest single solar power plant to be implemented in Malaysia.
Saif Malik, Managing Director, Origination and Client Coverage, Standard Chartered Bank Malaysia, said:
“Landing this accolade reinforces our commitment to renewable energy projects and clean technologies and illustrates our expertise and intimate knowledge of our footprint in Asia, Africa and the Middle East. It reaffirms our leading position in the field of renewable energy financing with some USD9.4 billion in renewable energy and clean technology projects financed as part of our commitment to Clinton Global Initiative.”
Meanwhile, Brad Sterley, Global Head of Clean Energy Project and Export Finance, Standard Chartered Bank PLC said:
“We are pleased to know that our international experience is also being recognised locally. As a key debt provider of many successful solar projects internationally, we are committed to continuously supporting solar projects in Malaysia and share best practices for the development of this industry.”
Many countries in Asia, Africa and the Middle East recognise the importance of clean energy for reasons that include environmental consciousness, climate change, independence from imported energy sources and the need for protection against rising and potentially volatile fossil fuel prices.
“Malaysia, as a fast-developing nation, is no different, and this translates into tremendous opportunities for the renewable energy sector like the solar industry, which our client was quick to recognise. Not only is their first foray into Malaysia helping to meet a demand in the market, it also bodes well for national job creation and supports the government's transformation programme to make the country a focal centre for the development of renewable energy,” Saif added.
Malaysia Greentech Awards 2013 was organised by the Malaysian Green Technology Corporation. It honours Malaysian-based developers, industry players, financial institutions, secondary schools and members of the media who have played a catalytic role in driving the nation's green agenda.
The awards was endorsed by the Ministry of Energy, Green Technology and Water (KeTTHA) and supported by Real Estate and Housing Developers' Association Malaysia (REHDA), Federation of Malaysian Manufacturers (FMM), SIRIM Berhad, Centre for Education and Training Renewable Energy and Energy Efficiency (CETREE) and Malaysia Property Incorporated (MPI) and other sector renowned organisations.