KUALA LUMPUR, 18 October 2024 – Solarvest Holdings Berhad welcomes the 2025 Budget, which aligns with our recommendations to accelerate Malaysia’s clean energy transition. 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.
“The 2025 Budget 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,” said Davis Chong, Executive Director and Group CEO of Solarvest
He also added, “Solarvest has been at the forefront of green hydrogen innovation, and the development of Malaysia’s first and largest floating solar farm in 2019 highlighted our strength and commitment to diversifying clean energy projects. We eagerly look forward to participating 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.
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