In light of Malaysia’s upcoming ASEAN chairmanship next year, the government has been urged to make the green economy as one of its main agendas.
Simpang Renggam Member of Parliament (MP) Datuk Seri Hasni Mohammad said that Malaysia is expected to leverage its ASEAN 2025 chairmanship to strengthen sustainable initiatives, including the ASEAN Catalytic Green Finance Facility and the ASEAN Smart Green Cities.
“These initiatives are expected to have significant impact in positioning ASEAN as a leader in green development and addressing climate change challenges in the region.
“Malaysia aspires to make ASEAN a model for global green initiatives, creating a sustainable future for the next generation,” he said.
In fact, many states in the country are now exploring energy alternatives, such as using untreated water and increasing renewable energy (RE) utilisation via solar projects.
Shell Malaysia Ltd and Progressture Power Sdn Bhd have partnered to install up to 20 megawatt peak (MWp) of solar capacity on the roofs of over 600 retail stations nationwide, as part of the Powering Progress strategy that aims to reduce Scopes 1 and 1 emissions by 50% by 2030, using 2016 as the baseline year.
It said the solar installation is expected to generate up to 25,550 megawatt-hour (MWh) of clean energy annually, which is approximately enough to power up 7,392 households.
Shell Malaysia and Singapore’s general manager of mobility Seow Lee Ming said this commitment drives the company to become a net-zero emissions energy business 2050, delivering value to shareholders, customers and society.
“By the end of 2025, our goal is for all of Shell’s retail stations across Malaysia to be powered by the sun. This project empowers consumers to participate actively in Malaysia’s green energy transition,” she said.
Progressture Solar’s co-founder and chief operating officer, Ng Yew Weng echoes this sentiment, nothing that the partnership underscores the essential role clean energy must play in decarbonising the energy sector.
“By aligning out strengths and committing to Net Zero by 2050, we are solidifying the standard for decarbonisation in this industry,” he added.
Similarly, Yinson Holdings Bhd’s renewables unit, Yinson Renewables (YR) had secured a US$59 million senior secures green financing facility for the Matarani solar project in Peru from IDB Invest and Natixis Corporate & Investment Banking (Natixis CIB).
YR chief financial officer Vegard Urnes said the financing marked a significant milestone for the company in Latin America, underscoring YR’s commitment to advancing RE solutions but also highlights the importance of strategic partnerships with institutions like IDB Invest and Natixis CIB.
The 97MWp Matarani Solar Plant, located near Arequipa, Peru, is backed by a long-term power purchase agreement with Orygen, the country’s leading RE supplier and generator. The project is a milestone in Peru’s energy sector as it is the first non-subsidised operational solar plant to be financed through a green project finance facility.
Meanwhile, Cypark Resources Bhd and Terengganu Inc Sdn Bhd entered into a partnership to develop a 500MW hybrid hydro floating solar (HHFS) plant at Tasik Kenyir, Terengganu.
From the joint venture, TNB Power Generation Sdn Bhd will design, build and operate the plant, further showcasing Malaysia’s leadership in green energy innovations.
Cypark executive chair Datuk Hamidah Moris said the project – set to begin in 2025 – involves hybrid hydro and floating solar photovoltaic technologies, marking a major milestone in Malaysia’s transition to RE.
“By combining Cypark’s RE experience with Terengganu Inc’s strategic vision, we have entered a powerful blueprint for sustainable progress. With its unique ecosystem and vast potential, Tasik Kenyir provides the ideal setting for this groundbreaking initiative.
“The integration of HHFS technologies will not only enhance energy efficiency, but also set new benchmarks for RE solutions in the region,” Hamidah said.
According to her, the hydropower generation combined with Tasik Kenyir’s 370 square kilometres water surface area holds great potential for energy generation and storage, supporting Malaysia’s grid system.
Additionally, the project also represents a tremendous opportunity for job creation, especially in a domain that would require a long-term, skilled workforce that would be highly exportable and in demand.
Moreover, Terengganu Inc president and group chief executive officer Burhanuddin Hilmi Mohamed emphasised the importance of the initiative, which would underscore its commitment to leveraging Terengganu’s natural capital responsibly while driving inclusive and sustainable growth for the state and nation.
“The 500MW HHFS project is the first of its kind in Malaysia and will harness Tasik Kenyir’s vast water body for clean energy generation. It will be the single largest site in Malaysia that combines solar energy production, battery storage as well as unlocking the potential of Malaysia’s extensive bodies of water,” he concluded.
