Sarawak state government is proposing to sell excess green energy to Singapore and in return, Singapore will invest in data center projects, said premier Tan Sri Abang Johari Openg.
Hong Leong Investment Bank (HLIB) research estimates that solar engineering, procurement, construction and commissioning (EPCC) jobs from Large Scale Solar 5 (LSS5) alone will hit RM7 billion, with quota winners likely to be announced in the first half of 2025.
Investors have been nibbling at selected oil and gas (O&G)-linked counters on Bursa Malaysia, with several stocks trading at or near one-year high on the recent rebound in oil prices and improved work activities outlook in key sub-segments and Malaysia.
The Maharani Energy Gateway project, with a total investment of US$2 billion, to be built in Muar, Johor, is set to promote Malaysia’s green energy initiatives further and boost the country’s trade and investment opportunities with Chinese companies, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
The government will soon open up bids for Malaysia’s fifth large-scale solar (LSS) photovoltaic programme, with a quota of up to 2GW of which a developer can bid for up to 500MW.
Tenaga Nasional Bhd will kick-start a 400 megawatt-hour (MWh) battery energy storage system (BESS) pilot project in this quarter, marking Malaysia’s first utility-scale battery storage project to address intermittency issues of renewable energy (RE).
Malaysian company Semarak Renewable Energy (RE) and China Hydropower (Malaysia), a subsidiary of PowerChina, have signed an agreement to develop Malaysia’s first large-scale green hydrogen production project using floating photovoltaic power generation.