International Finance

Malaysia plans more tenders for solar projects by 2020 end

The government aims to generate 20 percent of the country’s electricity from renewable energy by 2025

Malaysia is planning to announce further solar tenders for large-scale projects (LSS) by the end of 2020, the Star reported. Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said, “There will be some changes on how we will tender the LSS project. It will be more innovative and would hopefully drive the cost even lower,” Yeo said. 

In February, the Energy Commission or Suruhanjaya Tenaga launched its third round of tenders (LSS3) for 500MW large scale solar PV plant, according to media reports. The project will be located in Peninsular Malaysia and the power generated will be sold to the national utility Tenaga Nasional. 

Malaysia’s solar tenders will contribute to the government’s aim to generate 20 percent of the country’s electricity from renewable energy by 2025. This suggests that the grid would additionally require approximately 3,991MW of new energy. Media reports said that according to analysts the Cypark Resources and other solar developers might benefit from the second round of LSS project. 

Cypark Resources CEO Datuk Daud Ahmad in April said that the company planned to bid for a 100MW capacity under LSS3. Cypark Resources is the country’s pioneer developer and provider of renewable energy. Even Mega First had expressed its interest to venture into the renewable energy market after successfully operating the Don Sahong hydropower plant in Vietnam, Public Investment Bank told reporters. “This will open up many more opportunities to incumbents and new entrants, with financial impact likely to be more noticeable on the smaller players,” it added. 

Through the LSS projects the government intends to boost electricity generation. 

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