Wednesday, November 27, 2013

FiT attracts RM4.3billion investment from private sector

Malaysia claimed that it is one of the earliest nations among the ASEAN regional grouping to implement FiT mechanism to promote renewable energy. To date, this has attracted around RM4.3 billion in investment from the private sector.

RE sources in Malaysia that fall under FiT mechanism: Solar PV, Small Hydro, Biogas & Biomass

Pretty good start but we are definitely not in the front rows. I reckon Thailand and Singapore would occupy the first two slots in terms of aggressiveness in implementing renewable energy and energy efficiency, with or without FiT.

The news piece below (quoting Bernama) is a bit confusing as it mentioned "to promote and increase non-renewable energy to about 2,000 MW (2 GW) by 2020".

I think it should read "renewable" and not "non-renewable". Non-renewable sources refers to fossil fuels (petroleum, coal, natural gas, etc) and at present we are already generating more than 15 GW of energy from non-renewable sources.

What we are targeting for in 2020 is to generate 2,000 MW of renewable energy.

: :       : :       : :       : :       : :       : :       : :       : :       : :       : :       : :

For your reading pleasure....

531MW Non-renewable Energy Under FIT Offered
Bernama, November 22, 2013

PUTRAJAYA -- The Energy, Green Technology and Water Ministry has offered 531 Megawatt (MW) electricity to the renewable energy sector under the Feed-In Tariff (FiT) incentive mechanism until the first half of next year.

Minister Datuk Seri Dr Maximus Ongkili said the implementation of the FiT mechanism for the renewable energy sector has attracted investments totalling RM4.3 billion from the private sector.

The investments are estimated to provide 11,700 new job opportunities, he said at the ministry's 2013 Industry Award presentation.

Ongkili said Malaysia was among the earliest nation in the 10-member Asean regional grouping to implement the FiT mechanism to promote and increase non-renewable energy to about 2,000MW by 2020.

The minister also said his ministry was taking measures to improve the FiT mechanism besides exploring other mechanisms to increase non-renerwable energy in the country. Ongkili also said Malaysia, among the first country to implement the electric vehicle programme in 2009, has established 20 electric vehicle charging stations in Greater KL and in Melaka.

"Tests on electric buses are progressing smoothly. It is hoped that the target to have 2,000 electric buses by 2020 will be realised.

"We've to pursue the electric vehicle programme rigorously like what other countries are doing. They've implemented the programme seriously.

"For instance, millions of electric vehicles will be on the road in the United States by 2025," he added.


Arms said...

I've read articles that some investors are complaining about their investments in Malaysia. Hope this won't be like any of those :P

Happy weekend, Floyd!

de engineur said...

True. Some foreign investors have scaled back their operation and some even shelved their plan to take part in the Renewable Energy ventures in Malaysia.

But FiT would help a lot in promoting renewables. I hope!

Happy weekend, Arms.