Malaysia’s Penang Development Corporation (PDC) is all set to expand its presence in the renewable energy sector.
The state-run agency has plans regarding solar energy to make it one of its core businesses in the future.
Penang’s plan is in line with the state’s vision of transitioning to a green economy and the country’s goal of having RE account for 70% of its electricity generation by 2050, according to Datuk Aziz Bakar, the Chief Executive Officer of PDC.
Bakar remarked, “We expect a substantial rise in investments in renewable energy (RE), and Penang’s advantageous position as the home to numerous multinational corporations in the manufacturing sector positions it to play a crucial role in driving this development forward.”
According to the department, it has invested RM12 million in the solar energy projects. First, it was to install the solar PV system at Marelli Automotive Lighting Malaysia Sdn Bhd’s factory.
Its initial solar project was carried out in collaboration with Solarvest Holdings Bhd.
Meanwhile, the department has also signed a power purchase agreement (PPA) with Marelli Automotive Lighting Malaysia.
In addition, the department also has two additional projects with Solarvest in the pipeline to implement the solar PV system at factories in Penang. This solar power system is likely to generate 4.4 gigawatt-hours of clean energy annually.
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