Friday, 3 May 2008, Kuala Lumpur |
YTL Corporation today announced their acquisition of a Malaysian-based Clean Development Mechanism (CDM) developer, SV Carbon, now known as YTL-SV Carbon Sdn. Bhd.
YTL-SV Carbon Sdn. Bhd. is now the largest CDM consultancy in Malaysia and the third largest in ASEAN, with 30 projects under development in Malaysia, in addition to ongoing consulting projects in Indonesia, Thailand and China.
"With sustainable development as the cornerstone of our business strategy for over a decade, moving into the CDM space was a logical next step for YTL, given the strong strides we have already made in the areas of energy efficiency and renewable energy," said Tan Sri (Dr.) Francis Yeoh, Managing Director of YTL Corporation Berhad.
Tan Sri (Dr.) Francis also mentioned the recent launch of the Renewable Energy and Environment Fund (REEF), the ERL fast train project, the world-class Pangkor Laut Resort, and award-winning Wessex Water in the UK, as other YTL investments that reflect a long-term commitment to sustainability.
Following a strong commitment to nurturing clean technologies globally, YTL's latest venture will see YTL-SV Carbon provide end-to-end solutions for projects under CDM, handling all aspects of the process including identification of the potential projects, development of documentation, and approvals and sale of carbon credits regionally and globally. YTL-SV Carbon has identified cement, power, water, agriculture, and renewable energy as key areas that would benefit from its expertise.
YTL-SV Carbon is managed by its CEO, Soeren Varming, a pioneer in energy and CDM consulting, as well as renewable energy technology. With over 15 years experience in climate change issues, Varming has 20 CDM projects under his belt, with special expertise in the palm oil, waste and energy sectors. Tan Sri (Dr.) Francis Yeoh is the Chairman of this newly incorporated company.