Malaysia needs investments totalling RM33 billion in order to achieve

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  • 03 Sep 2019
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Malaysia Needs RM33b Investment to Hit Renewable Energy Target

Malaysia needs investments totalling RM33 billion in order to achieve its target of 20 percent electricity generation from renewable energy sources by 2025. The government will continue all the current incentives such as the Green Technology Financing Scheme and the Green Investment Tax Allowance to incentivise the growth of renewable energy. Meanwhile, the third round of large-scale solar (LSS3) bidding in August, saw the cost of generating per kilowatt-hour (kWh) from solar energy was lower than energy generation from natural gas sources. The lower cost of solar generation is due to the advanced solar panel development technology that allowed the project to be bid at a cost of as low as 17.77 sen per kWh. The Securities Commission has completed a six-month study on green financing and has given a report on 21 action items to facilitate and provide action items to implement the RM33 billion investment into renewable energy.

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New Straits Times

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