Big campaign for green fund

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KUALA LUMPUR: The Energy, Green Technology and Water Ministry will launch a nationwide campaign to promote the government's RM1.5 billion green technology fund.

Minister Datuk Peter Chin said it would be a "very big campaign" to tell the public that they could benefit from the fund announced by Prime Minister Datuk Seri Najib Razak in his 2010 Budget speech yesterday.

Chin said he believed the fund would fast-track efforts by green-centric companies that had a strong culture of being environment-friendly.

"Green technology should be a growth industry, and the RM1.5 billion will kickoff new industries that will follow suit," he said after the budget announcement.

Chin acknowledged that the amount set aside for the fund may not be sufficient but he was optimistic that it wouldn't be a major obstacle if the public response was positive.

He pointed out that any move towards green technology, even on an individual scale, could cost a pretty penny.

"If there is a lot of awareness and the uptake is good, there will be reason for me to ask for more," he said.

Science, Technology and Innovation Minister Datuk Seri Dr Maximus Ongkili said the establishment of the fund would allow both his and Chin's ministries to focus on their core businesses.

"Development will be under us, but utilisation and application to buildings and so forth come under them," he said.

Maximus believed many companies would take advantage of the opportunities that came with the fund, which would provide a launch pad for new technology.

"This is a good place to start for new technology, which we are monitoring, especially in solar technology.

"He (Najib) is talking about a lot of technology but solar will be the first thing that we can apply."

In his speech, Najib said in order to promote green technology, the RM1.5 billion fund would offer soft loans to companies that supplied and utilised green technology.

The government would provide a guarantee for 60 per centof the financing amount while the balance would come from banks.

The scheme, which will be handled by the National Green Technology Centre (formerly the Malaysian Energy Centre), takes off on Jan 1 and is expected to benefit 140 companies.