 KUALA LUMPUR, Oct 19 (Bernama) – Energy sector players have called on fi nancial institutions in the country to offer better fi nancial support to the renewableenergy (RE) industry given its huge potential going forward.
TNB Renewables Sdn Bhd managing director Mohd Yusrizal Mohd Yusof praised the huge availability of fi nancing options in the market but is hoping that thestructure of fi nancing and rates could be revisited. Investors and bankers need to look at more innovative and creative ways to structure better fi nancial rates, said Mohd Yusrizal at the Business Foresight Forum2022, organised by the Securities Industry Development Corporation here today. He was one of the speakers during a session titled ‘Investing in Future Renewable Energy’, alongside Malaysia Photovoltaic Industry Association president DavisChong and Gentari Sdn Bhd head of utility scale, RE Malaysia, Zulkifl i Salim. On other challenges, Chong suggested that the Securities Commission (SC) establish a task force on climate change and fi nancial disclosure to emulate similarimplementation in many advanced countries’ capital market regulations. “This will enforce all listed industry players in the capital market to really push the environmental, social, and governance (ESG) compliance faster,” he said. He added the current volatility in the foreign exchange market also posed risk to the industry, as a large percentage of the total cost for the purchase of equipmentin solar projects was mainly denominated in the US dollar. In the same session, moderator Abdul Razib Dawood, the chief executive offi cer of the Energy Commission, proposed the setting up of a green bank and sustainablefunds to fi nance green projects in Malaysia. -- BERNAMA
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