KUALA LUMPUR: Solarvest Holdings Bhd has launched Malaysia's first renewable energy (RE) financial technology platform, Powervest.
The company said Powervest was complementary to its solar financing solution and was established to promote RE adoption among commercial and industrial players via its zero initial cash outlay proposition.
Executive director and group chief executive officer Davis Chong said the company believed that the RE industry can only improve if there were efforts to continuously develop its supporting ecosystem.
"As one of the market leaders, it is our responsibility to inspire advancement and push the innovation frontier of the sector.
"The launch of the fintech platform today is yet another example of that and an important step forward for the industry," he said in a statement.
Powervest's fintech platform is aimed at creating a digitalised experience for its clients, enabling a seamless onboarding process.
Some of the key features include credit health analysis and the provision of RE financing solutions.
The fintech platform offers free credit health reports to prospective clients with unlimited submissions.
Through this automated application function, clients can expect to obtain the reports instantaneously once the relevant documents are uploaded.
Following that, they will also receive tailored-made RE proposals which include financing models based on the respective credit health report obtained.
"Under Powervest, we have made good progress when it comes to encouraging more commercial and industrial players to participate in this clean energy transition.
"We want to continue to make the process easier for businesses by reducing friction in the customer experience.
"With an integrated platform capable of handling all processes from credit health checks to generating RE proposals, we are positive that the renewable energy adoption rate will see bigger leaps moving forward," added Chong.