Malaysia plans to build region’s largest solar hybrid plant

Malaysia’s independent wealth fund Khazanah Nasional will rule the growth of the solar hybrid plant. Malaysia is deciding to create South-east Asia’s hugest solar hybrid facility while dealing with hydrogen plants to gain its 70 per cent aim of renewable energy potential by 2050, said Economy Minister Rafizi Ramli. Supreme wealth fund Khazanah Nasional will pursue the growth and establishments of the solar hybrid plant, which has gained global investments totalling RM6 billion (S$1.76 billion), said Mr Rafizi. It will be among 10 projects worth RM25 billion he conveyed on Thursday under the National Energy Transition Roadmap (NETR).

“NETR is this administration’s attempt to transform the economics of renewable energy so that we could quickly level up our installed potential with the accurate infrastructure and technology,” said Mr Rafizi. Tenaga Nasional, Sime Darby Property, Malakoff and Petronas will also be slice of the idea, as the government suggests. In May, Malaysia put up the renewable energy aim to 70 per cent of the total generation capacity by 2050, from 40 per cent. The target needs RM637 billion in investments. The nation’s renewable energy capacity stood at 25 per cent as at end-March, according to the Malaysian Investment Development Authority.