"The support from the government not only cements the commitment for a greener economy, but will also encourage businesses to invest in green technology.
"This is a boon to businesses looking to invest in energy efficiency solutions to achieve business sustainability and long-term financial gains," said Peter Cave, the Malaysian Country President of Schneider Electric, in a statement today.
The company recommends businesses to practise active energy efficiency through their four step strategy of measures, Fix the Basics, Automate & Monitor.
The fund which will now be extended till Dec 31, 2015 enables companies which are producers and users of green technology to obtain soft loans, with the government subsiding two per cent of the interest rate and providing a guarantee of 60 per cent on the amount of financing.
To date, about RM800 million has been approved to 50 local companies since the fund's creation in Budget 2010. - BERNAMA