With the Malaysian Budget 2025 stimulating the country’s clean energy transition, Solarvest Holdings Bhd is eager in participating in the Kenyir Floating Hybrid Solar Farm.
It said that 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.
“By allocating over RM300 million under the National Energy Transition Func (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 Solarvest chief executive officer Davis Chong.
He added that Solarvest is looking forward to participating in the Kenyir Floating Hybrid Solar Farm, the green hydrogen hub in Terengganu and the remaining 10 NETR flagship projects.
Chong also highlighted the e-rebates that the government provided up to RM70 million to encourage consumers and industries to buy energy-efficient electrical equipment, supporting individuals and businesses to transition to clean energy solutions.
“This will drive greater adoption of renewables, delivering lasting benefits for our economy and communities,” he opined.
Sarawak Continues in Promoting Sustainable Economy
At the same time, Sarawak is ready to learn and lead in promoting a just and sustainable global economy through the development of green and RE, sustainable agriculture or digital innovation, specifically through its post-COVID-19 development strategy (PCDS) 2030.
“The PCDS 2030 encompasses key initiatives such as enhancing digital infrastructure and promoting green technology, ensuring that progress is equitable and beneficial for all communities,” said Sarawak Premier Tan Sri Abang Johari Tun Openg.
According to Abang Johari, the state is charting a new course that aligns economic growth with ecological responsible by integrating economic revitalisation with sustainability and innovation. This includes the state’s focus of shifting to decouple economic growth from carbon emissions and resource depletion to a green economy that prioritises sustainable development while minimising environmental degradation to ensure long-term resilience.
To promote sustainable agriculture, he said the state is pioneering hybrid paddy cultivation and artificial intelligence (AI)-driven farming to boost rural productivity and income to reduce poverty and improve living standards.
“These efforts also support our rice self-sufficiency target by 2027 to ensure sustainable agricultural practices that benefit farmers and meet broader sustainability goals, reducing reliance on imported rice, strengthening food security and ensuring the competitiveness of the state’s agricultural sector.
On digital innovation, he said the Sarawak government had invest substantially in developing high-speed internet, 5G networks and fibre-optic connectivity to foster new economic sectors, while allowing equitable access to digital infrastructure that promotes inclusive growth across urban and rural areas.
