CIMB sets aside RM100mil for renewable energy


The financing initiative offers packages from as low as RM20,000 and up to RM1mil, in support of the government’s net energy metering (NEM) scheme.

PETALING JAYA: CIMB Bank Bhd plans to allocate RM100mil to its CIMB SME Renewable Energy Financing programme, as part of the group’s RM15bil SME allocation for 2019 to 2020 and sustainability commitment.

In a statement yesterday, CIMB said one of the first initiatives under this programme is to provide smaller SMEs with 100% financing to cover the cost of solar photovoltaic systems and installation on their rooftops.

“The financing initiative offers packages from as low as RM20,000 and up to RM1mil, in support of the government’s net energy metering (NEM) scheme.

According to the statement, SMEs need to first obtain the NEM approval from the Sustainable Energy Development Authority to be eligible for CIMB’s Renewable Energy Financing programme.

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