Risen Energy To Invest RM42.2 Billion To Produce 3GW Of High- Efficiency Photovoltaic Modules

Risen Energy Co. Ltd, has announced its first investment in Southeast Asia and set to produce 3GW of high-efficiency photovoltaic modules to meet the growing global demand.

The company has projected to invest a total of RM42.2 billion for this project through opening its latest production base in Kulim Hi-Tech Park Kedah targeting the facility construction to be completed by the end of this year.

The total investment will cover capex and operational expenditure over 15 years to undertake  design and development activity, and manufacturing of solar cells and  solar modules. Additionally, the investment will significantly contributes to the creation of approximately 3,000 job possibilities, including 800 management, technical, and supervisory jobs, as well as 500 engineers.

Prime Minister said, “This represents a key win  for Malaysia in proving our efforts to remain as the preferred investment  location with a favourable environment for high quality investments in  Asia.” 

“The investment of Risen Energy will further solidify Malaysia’s role in the global photovoltaic industry and is in line with  our National Investment Aspirations framework which contains the  elements of high value added, high technology, knowledge and capital  intensive, skills-intensive and high income jobs,” he added.

Meanwhile, Xie Jian Chairman of the Board and  President of Risen Energy said, “Malaysia has a competitive investment environment which  mainly reflected in the following  aspects, strategic location in the core area of Southeast Asia, solid  economic foundation and good economic growth prospects.

“Abundant of raw materials, high-quality human resources, and peaceful ethnic relations is also an advantage. Most importantly, the strong support and service from the state and local governments,” Xie Jian said.

To complement this project, MIDA has begun working with the company on particular talent development programmes to ensure a sustainable local talent pool to match the demands of this global solar player, in order to capitalise on the increased job opportunities provided.

Risen Energy’s project will assist local firms, particularly SMEs, by allowing them to participate in the global value chain. The multiplier effects will assure beneficial social outcomes while also adding value to the overall economy of Malaysia.

MIDA also urging companies to participate and work closely through the vendor development and supplier programmes designed to support Risen Energy’s local sourcing of relevant products or auxiliary services.

Internship programmes are also in the pipeline with local higher learning institutions, to prepare industry-ready talents. 

This facility will create synergies and increase the company’s photovoltaic production capacity, while also raising profit margins and enhancing anti-risk capabilities, all of which are vital for Risen Energy’s future sustainable, steady, and rapid growth.

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