FINANCIAL SUPPORT TO ENCOURAGE ENERGY SUSTAINABILITY
WHILE building owners and landlords are ready to embark on energy efficiency projects to reduce energy consumption, there is often a lack of financial support and expertise to find the right service companies. energy (ESCO).
To boost the development and adoption of energy efficiency projects in the country, UOB Malaysia launched Asia’s first integrated financing platform, U-Energy, to help businesses and homeowners save on their bills. electricity, reduce their carbon emissions and meet their sustainability goals.
The U-Energy platform includes 10 ESCOs that customers can tap into for energy efficiency projects. ESCOs play a key role in the ecosystem by providing technologies and services such as project consulting, sustainable and cost-effective design energy audit, as well as the implementation and end-to-end management of retrofits. buildings.
These U-Energy partners can support common energy efficiency projects such as improving the efficiency of chillers and air conditioning, installing solar panels on rooftops, switching to LED lights, optimizing energy and energy management systems, modification of the building facade to reflect direct sunlight to reduce heat absorption, as well as the replacement of elevators with energy regeneration technology .
On average, the U-Energy platform’s ESCOs can help customers reduce their energy consumption by at least 20%.
The financial program is supported by government agencies such as the Sustainable Energy Development Authority (SEDA) of Malaysia, the Malaysian Investment Development Authority and the Malaysian Green Technology Corporation.
Under UOB Malaysia’s green finance program, owners of commercial and industrial buildings can opt to purchase energy efficient equipment or system directly. This offering includes a loan of up to RM 25 million with a maximum loan facility of seven years, subject to optimal sizing of equipment and system by U-Energy partners.
Building owner loan applications by existing UOB Malaysia customers will go through an expedited approval process. They will also have the choice of adopting the âenergy as a serviceâ model whereby UOB Malaysia will provide green loans to U-Energy partners at no upfront cost.
For homeowners, a 0% interest payment plan for up to three years is available when UOB credit cards are used as a method of payment for their energy retrofit projects.
U-Energy is part of UOB’s sustainable financing solutions under the UOB Smart City sustainable financing framework. The other programs are the Green Trade Finance Framework, the Real Estate Sustainable Finance Framework and the Green Circular Economy Framework.
Aligned with the United Nations Sustainable Development Goals, the goal of UOB’s Sustainable Financing Framework is to enable businesses to apply for green banking products without having to worry about developing their own financing framework.
For more information on U-Energy, visit www.UOBgroup.com/u-energy