BTM Resources Berhad announced that its wholly-owned subsidiary BTM Land Sdn. Bhd. had received an email from Sustainable Energy Development Authority Malaysia (“SEDA”) informing that it has been successful in its application FIT.
The group has been successful in the Feed-In Tariff quota for biomass resources under the e-bidding mechanism for the year 2021 with an installed capacity of 8 MW. SEDA announced recently that it had approved a total of 34 companies for Feed-in Tariff (FiT) quota applications by e-bidding for biogas, biomass, and small hydropower resources for 2021 with a total capacity of 174.672MW.
The FiT quota application for 2021 was opened in June 2021 with a quota offer of 187.805MW. SEDA received favorable participation from 66 companies with a total capacity of 452.842MW or a 36% increase over the participation in 2020 from 42 companies with a total capacity of 365.552MW. This increase is an advancement in the renewable energy (RE) industry in Malaysia.
The FiT mechanism was introduced in 2011 to promote energy generation through renewable sources. The FiT quota offering is expected to generate investments of RM1.56 billion and create 526 jobs in the RE industry.