Green & Smart takes out loan as it progresses biogas projects

Malaysia-focussed palm oil mill effluent biogas renewable energy generator Green & Smart Holdings announced on Wednesday that it entered into a 12 month loan of approximately MYR 1.41m (£0.25m) with an unnamed UK-based lender at an interest rate of 1% per month.

The AIM-traded firm said the monies would enable the company to primarily progress work on its portfolio of fully-owned biogas projects such as Dupont & Leosk in Gemencheh, Negeri Sembilan and Milik Mestika in Ledang, Johor.

“We are pleased to have received further support from the UK, as we continue to build and commission further projects,” said group managing director Saravanan Rasaratnam.

“With our fully-owned plants Kahang and Malpom generating revenue, we are keen to continue to move our pipeline of projects forward to ensure our mill operating partners are able to satisfy their licensing obligations in terms of the responsible and environmentally-friendly treatment of palm oil mill effluent.”