Malaysian government’s Green Technology Financing Scheme extended till 2022 with MYR 5 billion allocated for second round
According to a news report in The Star, the Malaysian government is extending the Green Technology Financing Scheme (GTFS) till 2022, with an allocation of MYR 5 billion(~USD 1.1 billion) for the second round of the scheme, GTFS 2.0, starting in 2018. The Budget 2016 speech in October 2015 had announced the extension of the implementation period of GTFS until December 31, 2017.
The scheme had been launched in 2010 with an initial funding of MYR 3.5 billion (~USD 0.8 billion), of which MYR 2.9 billion has been invested in 588 approved local green technology projects. The list of certified projects can be accessed here.
Projects must be located within Malaysia, utilising local and imported technology. The projects have to 1) Minimize degradation of environment; 2) Have zero or low green house gas emission; 3) Must be safe for use and promotes healthy and improved environment for inhabitants; 4) Conserve the use of energy and natural resources and 5) Promote the use of renewable energy resources.In addition, there are criteria specific to the four sectors of energy, water & waste, building & township and transport.
Users of green energy technologies can receive up to MYR 10 million (~USD 2.2 million), while producers can get up to MYR 100 million. Funding is in the form of soft loans, supported by the government, from financial institutions.
The Minister for Energy, Green Technology & Water, Datuk Seri Maximus Johnity Ongkili also said that the MySuria solar-panel programme for low-income groups is expected to kick off nationwide this month, starting with 1620 households.
Featured image: GTFS website