A major milestone in clean energy advancement was achieved as a significant rooftop solar photovoltaic (PV) project was successfully completed with a capacity of 1.1 megawatt-peak (MWp), which signifies a significant step towards harnessing renewable energy.
A Malaysia-based engineering services company announced the successful completion of a 1.1-megawatt-peak (“MWp”) rooftop solar photovoltaic (“PV”) installation project at a leading manufacturer of crane spreaders in Malaysia at its manufacturing plant in Chemor, Perak.
The engineering services company acted as the engineering, procurement, construction, and commission (“EPCC”) provider for the rooftop installation of solar PV panels, which are expected to generate approximately 1,497.8 megawatt-hours (“MWh”) of clean electricity annually. This installation will enable the manufacturer to offset 957 tonnes of carbon dioxide emissions, equivalent to the air-purifying effect of 43,505 mature trees.
The Deputy Chief Executive Officer (Investment Promotion and Facilitation) of the Malaysian Investment Development Authority (MIDA) expressed full commitment to supporting businesses and investors in Malaysia. He emphasised the importance of the manufacturer’s dedication to renewable energy, particularly in light of the Malaysian government’s visionary policies that aim to increase the renewable energy capacity mix to 70% by 2050. By adopting solar power, the manufacturer is not only reducing their environmental impact but also actively contributing to Malaysia’s sustainable and greener future.
Meanwhile, the engineering services company’s Executive Director and Group Chief Executive Officer stated that the successful installation of the rooftop solar PV system reflects the company’s commitment to quality and timely delivery. Leveraging its expertise in turnkey engineering and technical solutions, the engineering services company is confident in helping the manufacturer achieve its energy efficiency targets through the solar PV system.
They also highlighted the increasing interest in clean energy adoption and mentioned their strong job pipeline, which includes large-scale power plants, commercial and industrial projects, and overseas ventures.
The recent lift of the renewable energy export ban by the Malaysian government, along with the new national renewable energy generation target of 70% by 2050, presents promising opportunities for the engineering services company and the clean energy industry. As corporations strive to reduce their reliance on fossil fuels for electricity generation, the engineering services company aims to support its customers as a reliable decarbonisation partner, facilitating their transition towards a greener future.
The President of the manufacturing company emphasised the company’s commitment to reducing their carbon footprint and greenhouse emissions. The manufacturer aims to halve its greenhouse emissions by 2030, contributing to the global objective of limiting the rise in temperature by 1.5°C per year.
Transitioning to solar energy enables the manufacturer to promote clean electricity consumption and emission reduction while mitigating the risk of rising electricity costs. The company remains dedicated to exploring innovative clean energy solutions to further reduce its carbon footprint.
The global solar photovoltaic (PV) market was valued at US$154.47 billion in 2020. It is projected to grow from US$199.26 billion in 2021 to US$1,000.92 billion in 2028, exhibiting a growth rate of 25.9% during the period from 2021 to 2028.
The COVID-19 pandemic had an unprecedented and significant negative impact on the solar PV industry worldwide, resulting in a decline in demand across all regions. As a result, the global market experienced a slower growth rate of 2.3% in 2020. However, with the expectation of the pandemic’s effects diminishing, the market is anticipated to return to pre-pandemic levels, leading to a substantial increase in the compound annual growth rate (CAGR).Top of Form
About MIDA
MIDA, the Malaysian Investment Development Authority, operates as the government’s primary investment promotion and development agency within the Ministry of Investment, Trade, and Industry (MITI). Its primary role is to facilitate and promote investments in the manufacturing and services sectors in Malaysia.
With its headquarters located in Kuala Lumpur Sentral, MIDA has a network of 12 regional offices and 21 overseas offices. MIDA serves as a strategic partner to businesses, enabling them to capitalise on the opportunities presented by the current technology revolution.
