Budget 2025 accelerates clean energy transition, Solarvest keen on Kenyir Solar Farm
19 Oct 2024
Budget 2025 is a step towards accelerating Malaysia’s clean energy transition and the company is eager to participate in the Kenyir Floating Hybrid Solar Farm, said Solarvest Holdings Bhd.
It said the government’s decision to continue key energy initiatives, including the continuation of the Green Technology Financing Scheme (GTFS) with a funding amount of RM1 billion until the year 2026 demonstrates a commitment to fostering a thriving renewable energy sector.
“Budget 2025 is a significant step forward in solidifying Malaysia’s position as a leader in renewable energy. By allocating over RM300 million under the National Energy Transition Fund (NETR), compared to RM100 million this year, the country is set to enhance its energy landscape.
“The consistently strong demand for solar energy and net energy metering (NEM) underscores the importance of extending NEM to June 2025. This move will enable clean energy providers like us to further contribute to the nation’s energy transition,” it’s group chief executive officer Davis Chong said.
He said Solarvest is looking forward to participate in the Kenyir Floating Hybrid Solar Farm, the green hydrogen hub in Terengganu and the remaining 10 NETR flagship projects.
“Additionally, e-rebates of up to RM70 million are provided to encourage consumers and industries to buy energy-efficient electrical equipment, supporting individuals and businesses transitioning to clean energy solutions. This will drive greater adoption of renewables, delivering lasting benefits for our economy and communities.”
Solarvest looks forward to partnering with public and private sectors to further the nation’s sustainability goals.
Source: Bernama
