KUALA LUMPUR: UOB Malaysia has launched U-Energy, the primary built-in financing platform in Asia that aimed to drive energy efficiency for industrial and industrial companies in addition to residential property house owners.
Deputy chief govt officer Ng Wei Wei mentioned following U-Energy’s first roll-out in Singapore, the financial institution would assist Malaysian companies and owners save on electrical energy payments, minimize carbon emissions and obtain their sustainability targets.
“The potential for energy efficiency financing alternatives in ASEAN between 2020 and 2030 is estimated at US$139 billion (US$1=RM 4.22).
“With U-Energy, we’re offering financing options to join constructing house owners, energy service firms (ESCOs) and inexperienced contractors in addition to addressing the pinned factors of house owners and companies in assembly their inexperienced agenda,” she mentioned in her opening remarks on the U-Energy digital launch right this moment.
She mentioned industrial and industrial constructing house owners may choose for a direct buy of the energy-efficient gear or system with UOB inexperienced financing.
“Under this scheme, constructing house owners might receive a mortgage of up to RM25 million with a most seven-year mortgage facility, topic to optimum gear and system sizing by the U-Energy companions.
“For owners, UOB Malaysia gives a zero per cent curiosity instalment plan of up to three years when UOB bank cards are used because the mode of fee for their energy efficiency retrofitting tasks,” she mentioned.
She mentioned in Malaysia, the U-Energy platform featured ten ESCOs, which clients may faucet for energy efficiency tasks.
Ng mentioned these U-Energy companions may help widespread energy efficiency tasks comparable to enhancing chiller and air con efficiency, putting in photo voltaic panels on rooftops, switching to LED lights, optimising energy and energy administration methods and altering the constructing façade to mirror direct daylight to scale back warmth absorption in addition to changing elevators with energy-regeneration know-how.
She mentioned on common, the ESCOs on the U-Energy platform would assist clients minimize a minimum of 20 per cent in energy consumption.
“At UOB we consider the demand for sustainable financing will proceed to develop in Malaysia and throughout the area.
“There is an annual financial alternative estimated at US$1 trillion to be tapped by 2030 in Southeast Asia. Similarly, UOB group aims to construct a sustainable finance portfolio of SGD25 billion by 2025,” she mentioned.
U-Energy can also be supported by authorities companies such because the Sustainable Energy Development Authority (SEDA) Malaysia, Malaysian Investment Development Authority and Malaysian Green Technology Corporation.
For extra data, go to www.UOBgroup.com/u-energy. – Bernama
