32 companies awarded FiT quotas, set to generate RM1.14 bil investments

07 Dec 2022

The Sustainable Energy Development Authority (SEDA) has awarded 32 companies the Feed-in Tariff (FiT) quotas this year with a total capacity of 111.407MW, which is expected to generate investments worth RM1.14 billion.

SEDA said the FiT quota applications for the year 2022 will also create as many as 540 job opportunities in the renewable energy (RE) industry.

“The FiT quota was fully available via an e-bidding exercise for biogas, biomass and small hydropower sources in August 2022 with a total quota offered of 187MW,” it said in a statement.

SEDA revealed it received encouraging participation from 68 companies with a total capacity of 312.007MW.

The FiT mechanism was introduced back in 2011 to encourage energy generation through renewable sources.

These approved RE projects are expected to generate and supply electricity starting in 2025 and 2027.

“This is part of the government’s efforts to boost the country’s economic growth, particularly in the development of the RE sector while supporting the target of 31% installed capacity of RE by 2025 and 40% by the year 2035,” SEDA said.

Since the FiT mechanism was introduced back in 2011, a total of 1,423.96MW quotas had been approved for all renewable sources involving 10,480 projects nationwide.

The 2022 FiT quota application results can be accessed through the SEDA Malaysia portal at www.seda.gov.my.

Source: Bernama