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Solar energy in Malaysia

Updated On: Jun 08, 2009

The Malaysian government has identified solar energy as one of the growth areas that it intends to push forward.

The government provided attractive incentives for companies to set up their operations in Malaysia.

Such incentives include stimulus packages as well as aggressive promotional strategy to attract both foreign and local investors.

This initiative is underpinned by three solar energy projects, one of which is above US$1 billion (US$1=RM3.44).

194 projects with a proposed investment of US$2.1 billion had been approved for the first three months of 2009/

The government is optimistic the country would be able to achieve the annual target investment of RM27.5 billion set under the third Industrial Master Plan.

The Malaysian government believes that it has good infrastructure to support the industry, including raw materials.

In 2008, manufacturing projects worth RM62.8 billion were approved compared with RM59.9 billion in 2007.

Sources

Bernama, "Solar Energy To Get Govt Attention" dated 3 June 2009 in Bernama [downloded on 3 June 2009], available athttp://www.bernama.com/bernama/v5/newsindex.php?id=415547







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