KeTSA Minister Shamsul says Malaysia will strive to attract more investment for clean energy transformation.
Malaysia is also looking into Renewable Energy as the new areas and sources of economic growth to bring its economy back to normality.
Minister of Energy & Natural Resources (KeTSA) Datuk Dr Shamsul Anuar Nasarah said accelerating the RE sector’s growth proved to be among the most effective immediate actions that can be undertaken for economic recovery.
“Thus, a one gigawatt worth of tender contracts for large scale in solar and a 500MW of rooftop solar were announced as part of Malaysia’s broader Covid-19 recovery measures,” Shamsul said in an address to the 11th IRENA Assembly recently.
“These two initiatives were also coupled with the requirements for greater local content and local participation as an effort to revive the country’s economy through economic spillover and job creations.
“These initiatives were estimated to harness an investment of US$1.5 billion and create 18,000 new job opportunities.”
Shamsul acknowledged there was a greater awakening among countries on the importance of energy transition. More and more countries were now venturing into the development of RE for economic recovery.
On Renewable Energy and Future Energy Policy Planning, he said Malaysia would strive to attract more investment for clean energy transformation, including spearheading and scaling up the development and deployment of RE.
“We envisage that RE adoption in Malaysia will continue to grow. Malaysia has set a target of 31 per cent RE in power capacity in 2025 and 40 per cent in 2035. The spillover effect from RE development will benefit the people and country, through jobs, multiplier effect and wealth creation, with sensible management of energy and natural resources,” he added.
He thanked IRENA for taking various measures to ensure its operations and in continuing its role to spearhead the development of RE globally. — @green