Enigin News - Thai Industries To Get Low Cost Energy Efficiency Loans
"Since energy use is rising, there is demand for improved energy efficiency. However, we need some capital to invest in these systems," said Rungruang Saipawan, director of The Federation of Thai Industries (FTI) Institute of Industrial Energy.
Funding for the project previously came from the state's Energy Conservation Fund (ECF), but limited funds meant limited participants.
The FTI and the Energy Industry's Alternative Energy Development and Efficiency Department (DEDE) are talking with major commercial banks about loans to the industrial sector for energy-saving solutions.
Mr Rungruang added:
"We want the food, textile, electronics and property development industries to join the programme since all these are among the largest consumers, accounting for about 50% of total power demand in the industrial sector, though most are small- to medium-sized enterprises (SMEs),
"About 50% of our 6,600 members in FTI are in these industries."
The FTI signed a memorandum of understanding yesterday with DEDE and CIMB Thai bank. Under the agreement, CIMB will provide loans with fixed interest at 4% for seven years to borrowers.
The regions Enigin Distributors have the ideal solutions for these industries to enable them to combat rising energy costs with a great return on investment and with low cost loans available it makes the decision to install a financial no-brainer.
By becoming energy efficient businesses may save money but, as Enigin Distributors know, the benefits are usually far greater, as Chen Namchaisiri, chairman of the FTI's Textile Industry Club, explained when he said export products may face tougher competition because of the Asean Free Trade Agreement, but by addressing energy efficiency it can make all the difference:.
"We can compete with lower-cost producers in this region by reducing energy costs instead of cutting selling prices," said Mr Chen.
By lowering costs and retaining the money that is spent on wasted energy every business becomes more profitable and hence more competitive –find out now by contacting your local Enigin Distributor.
Original article written by Yuthana Praiwan for the Bangkok Post
Wednesday 24th February 2010