RAMC assigns Tier-1 EB rating to PGA’s hydropower plant

KUALA LUMPUR: RAM Consultancy Services Sdn Bhd (RAMC) has assigned a Tier-1 Environmental Benefit (Tier-1 EB) rating to Pasukhas Green Assets Sdn Bhd’s (PGA) existing 3.2MW small-run-of-river hydropower plant located in Kuala Krai, Kelantan.

In a statement yesterday, RAMC said it considered the clean renewable energy generated by PGA’s hydropower plant and the role it plays in the decarbonisation of the energy grid.

“The Tier-1 EB rating is assigned to projects that are important to a low carbon future and have clear demonstrable environmental benefits. In addition, Tier-1 EB rated projects directly contribute towards substantial and sustainable reductions of greenhouse emissions,” it said.

RAMC has also reviewed the green sukuk framework issued by PGA for the proposed RM200 million ASEAN Green Sustainable and Responsible Investment (SRI) Islamic Medium-Term Note (ASEAN Green SRI Sukuk) Programme (ASEAN Green SRI Sukuk Programme).

“Proceeds from PGA’s ASEAN Green SRI Sukuk will be used to finance green projects that aim to preserve the environment and natural resources, conserve the use of energy, promote the use of renewable energy and/or reduce greenhouse gas emissions, as well as other related expenses.

“These objectives are consistent with the eligibility requirements of the Securities Commission of Malaysia’s SRI Sukuk Framework, as well as the ASEAN Green Bond Standards which is based on the International Capital Markets Association’s Green Bond Principles,” it added. — Bernama