The Sustainable Energy Development Authority (SEDA) Malaysia awarded 32 companies the Feed-in Tariff (FiT) quotas for the year 2022 with a total capacity of 111.407MW.
The FiT quota application for the year 2022 was fully available via an e-bidding exercise for biogas, biomass, and small hydropower sources in August 2022 with a total quota offered of 187MW. SEDA Malaysia said it has received encouraging participation from 68 companies with a total capacity of 312.007MW.
The FiT mechanism was introduced back in 2011 to encourage energy generation through renewable sources. The quota offered for the year 2022 is expected to generate an investment of RM1.14 billion and create as many as 540 job opportunities in the Renewable Energy industry.
These approved RE projects are expected to generate and supply electricity starting from the years 2025 and 2027. This is part of the Government’s efforts to boost the country’s economic growth, particularly in the development of the RE sector while supporting the target of 31% installed capacity of RE by 2025 and 40 % by the year 2035.
Since the FiT mechanism was introduced back in 2011, a total of 1,423.96MW quotas have been approved for all renewable sources involving 10,480 projects nationwide.
