KUALA LUMPUR, April 6 (Bernama) -- Malaysia Debt Ventures Berhad (MDV), a subsidiary of the Minister of Finance (Incorporated) [MOF Inc] and an agency under the purview of the Ministry of Science, Technology and Innovation (MOSTI), took home an award for Sustainable Energy Financing at the National Energy Awards 2020 (NEA 2020).
The NEA is an annual award which recognises the outstanding achievements and best practices of the public and private sectors in driving the country’s sustainable energy agenda. Inaugurated in 2018, the NEA is part of the government’s effort in promoting Energy Efficiency (EE) and Renewable Energy (RE).
MDV was selected as one of the 30 winners of the NEA 2020 under the newly introduced Special Awards category for Sustainable Energy Financing (Development Financing Institutions & Others), which acknowledges financial institutions’ support in financing RE and EE projects in Malaysia.
The award ceremony which was held at the Majestic Hotel in Kuala Lumpur yesterday saw MDV receiving recognition as one of the leading financiers for Sustainable Energy in Malaysia based on its contribution to the sector via the Green Technology Financing Scheme (GTFS) in which MDV is currently the highest financier under the scheme with more than RM912.0 million financing approved for 64 green technology companies since the scheme was first introduced by the Government back in 2010.
MDV’s Chairman, Khairul Azwan Harun said, “We are deeply honoured by the recognition given to us by the NEA for our efforts in financing sustainable energy projects in Malaysia. As a dedicated technology financier, MDV is highly invested in the development of the green technology sector in Malaysia by offering flexible and innovative financing solutions to green technology projects and companies even in the earlier days when financing was not readily forthcoming due to the sector being a relatively new concept in Malaysia and the numerous market and credit risks associated with the projects.”
Azwan further remarked that MDV has always been a firm supporter of the country’s sustainability agenda and believes that green technology holds an important key to achieving sustainable economic growth for the continued development of the nation.
To date, MDV has approved a total of RM1,203.7 million for 84 green technology projects. comprising RM936.4 million in renewable energy, RM128.0 million in energy efficiency, RM89.8 million in water & waste management projects and RM139.3 million in related green projects.
The award ceremony also saw MDV’s customers, Concord Green Energy Sdn Bhd becoming the winner for the RE category (on grid: national grid) for its Lepar Hilir Biogas Plant in Pahang, while Lotus West Sdn Bhd and Cenergi EE Sdn Bhd each received an award under the Energy Performance Contracting (EPC) category. While MDV is proud of its customers excellent achievement in the area of RE & EE, it is also an indication of MDV’s expertise in identifying potentially viable projects to support, through its stringent due diligence processes and detailed assessment of projected performance of the business.
About MDV – The Nation’s Technology Financier
Malaysia Debt Ventures Berhad (MDV) is a wholly-owned subsidiary of the Minister of Finance Incorporated established in 2002 with the objective of providing flexible and innovative financing to develop high-impact and technology-driven sectors of the economy, identified and prioritised by the Government as future engines of growth. MDV’s strategic role in the technology financing ecosystem in Malaysia is defined by its approach to funding which is different from other financial institutions. MDV’s niche is helping to fund young technology-based companies or start-ups that are unable to secure financing from commercial financial institutions due to their novel business model, lack of proven operating track record and lack of collaterals. With the rapid rate of technological and digital advance, and Malaysia’s continued push towards becoming an advanced nation, MDV will continue to have a significant role to play particularly in financing emerging technology areas and in achieving its vision of becoming the Nation’s Technology Financier.
For more information on MDV, please visit www.mdv.com.my
Please click here for photos and captions:
https://www.dropbox.com/sh/dtxllcjalqtxs74/AAD1hPTgEzTmUQD3oMNQQ8Yta?dl=0
Source: Malaysia Debt Ventures Berhad
http://mrem.bernama.com/viewsm.php?idm=39741
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