Ditrolic secures RM70m financing from Maybank for its consumer solar energy programme

PETALING JAYA: Ditrolic Solar Group’s Ditrolic Energy Solution Sdn Bhd secured a RM70 million financing facility from Malayan Banking Bhd (Maybank) to develop its SunLease programme in Malaysia.

Under the programme, it offers large electricity consumers in Malaysia the option to purchase solar generated electricity from Ditrolic at a lower rate than the prevailing utility tariff.

Its group CEO Tham Chee Aun said the financing demonstrates the confidence of Maybank in renewable energy industries and in Ditrolic Solar as a player in the energy sector.

He also noted that this is also a step towards its mission to deliver affordable and clean energy to customers.

“We are delighted that Maybank is funding us for this innovative programme that will empower the consumer to take control of the price of their energy requirements. Maybank has strong sustainability goals and this is reflected in its commitment towards funding our clean energy project,” he said in a statement.

Maybanks global banking group CEO Datuk Muzaffar Hisham affirmed that the bank fully supports the transition to renewable energy given the significant benefits and the financing fits with its sustainability agenda which is anchored on its mission of humanising financial services.

“We believe that the renewable energy sector has immense potential given the increasing demand for environmentally friendly products and services globally, and we are honoured to support Ditrolic Solar in providing affordable and clean energy to Malaysians,” he said.

Muzaffar pointed out the bank will continue to play a key role in supporting industries that can ensure the sustainability of communities and the environment in the long-term.

The financing will be utilised to fund Ditrolic’s SunLease programme to build and install 30MW of rooftop solar photovoltaic (PV) systems to generate cheaper electricity for consumers in Malaysia.

Currently, Ditrolic Solar has a 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.

It estimated that the power generated from these solar projects can supply enough clean energy to power 12,000 typical homes and to reduce more than 28,000 tonnes of CO2 emission every year.

source https://www.thesundaily.my/business/ditrolic-secures-rm70m-financing-from-maybank-for-its-consumer-solar-energy-programme-BX2330672