Looking at the growing demand for sustainable energy especially using solar power, Itramas Corporation one of the largest producers of solar energy is confident of expanding its revenue base to RM300 from RM 250 million it achieved last year.
A key player in green energy, the company’s group managing director Lee Choo Boo said the target was driven by a few ongoing as well as upcoming projects secured locally, and internationally in the United Kingdom, Vietnam, South America, Africa and Middle East.
“With the three solar photovoltaic power plants concurrently in Melaka, Terengganu and Kedah now operational with a higher than expected output of between six and eight per cent, we expect the solar segment to contribute around 60 over per cent to revenue this year while the remaining to be under the smart cities part,” he told recently.
Itramas is not new to green energy, having been established in 1999 the company has expanded into multiple sectors including large-scale-renewable energy, energy efficiency, smart city and electronic manufacturing services.
Throughout the years, the company has successfully deployed close to RM2 billion worth of green and sustainable projects, and currently is the largest solar energy producer in Malaysia with 200MWp in operation.
In regard to demand for solar energy, Lee said there is a growing trend in the commercial and industrial sectors but lower interest in the residential area.
“Solar is gaining attention in the country right now. From the business part, we can see more than 100 companies bidding for the large-scale-solar 4 tender, which is very competitive.
“As an industry player, we are now looking at promoting and going into the residential area for solar energy
“We believe that in the next couple of years, that (residential area) will be a major segment as people become more aware about going green; it can save money, and improvement in the storage technology,” he added.
Not one to sit idle, while the focus will be mainly on the solar sector, Lee will also look into energy efficiency services that include research and development of LED products, high-value-add manufacturing, energy performance contracting, operations and maintenance for public lighting, adding that they were all highly customisable to suit the needs of every client. The company will be rolling out smartphones, smart lightings to be involved in the 5G infrastructure that will require connected lighting and solar power street lighting.
Malaysia aims to achieve 20% energy mix by 2025 to be of from sustainable source, this has gotten many corporations to venture actively into alternative energy generation away from fossil fuel dependent. Regionally, we have a strong lead to capitalise in this sector when more nations aspire to become less dependent on coal or fossil fuel. Companies like Itramas which already has research and development centre focused on various levels on renewable energy is poised to attract more interest from outside the country.