Malaysian Green Technology and Climate Change Corporation (MGTC) teams up with Biotek Dinamik Sdn Bhd (Biotek Dinamik) and China’s State Power Investment Corporation (SPIC) to create green electrons and green molecules assets.
Green electrons, which typically produce electricity from non-emitting sources such as wind and solar. For the project, green electrons indicates green power (focusing on electron aspects) while green molecules emphasise on green hydrogen and bioenergy (concentrating on the molecular aspect).
Biotek Dinamik executive chairman Datuk Eddy Yap said the company plans to launch the Malaysia chapter of the Asian Green Energy Belt (AGEB) project, which consists of 5 Gigawatts (5GW) green energy projects in the final quarter of 2023.
“The AGEB project, which will be developed from 2024 to 2030, include development of green energy generation projects from green or renewable energy sources such as solar, wind, biomass, biogas, geothermal and hydro-electric across Asia,” he said at an document exchange ceremony today.
The exchange was between Serba Dinamik’s Yap and MGTC chief executive officer Shamsul Bahar Mohd Nor, witnessed by Natural Resources, Environment and Climate Change minister Nik Nazmi Nik Ahmad at the 14th International Greentech Eco Products Exhibition and Conference Malaysia (IGEM). Also present at the event was SPIC Energy Malaysia Bhd director Zhai ChuanXu.
Yap added the focus of their partnership centres on advancing green energy initiatives within Malaysia.
“AGEB is poised to become the green energy flagship project, focusing primarily on green power and green hydrogen assets development. It plans to connect all green energy hubs to be developed across Asia to form a green energy belt.
“This is to promote and ensure regional energy security and facilitate efficient cross-border trading of green energy and aims to decarbonise our national and regional economies through sustainable and responsible investment (SRI) in green energy generation.”
Shamsul said that AGEB objectives are consistent with Malaysia’s national energy policies, especially with the recently launched National Energy Transition Roadmap (NETR).
“It is also in line of United Nations Sustainable Development Goals, in global pursuit of energy transition and net-zero carbon.”
Meanwhile, the Chinese partner, SPIC, is one of the five major power generation groups in China and the largest solar power generation enterprise in the world, with businesses spanning across 46 countries.
Currently, SPIC energy portfolio consists of 213GW total installed capacity, of which clean energy accounts for 66.19%, with total asset value of US$229 billion, and ranked 260th Fortune Global 500 in 2022.
SPIC is the project’s EPCC (Engineering, Procurement, Construction and Commissioning) partner and investor while MGTC is the project’s strategic partner and the enabler for the project to align with government policies, industrial guidelines and practices.
The total investment over the next eight years for the planned 5GW project is estimated to cost US$5.5 billion.
Phase 1 will entail development of 1GW of Solar to Hydrogen project, with an estimated cost of approximately US$1.2 billion while Phase 2 consists of developing 4GW of green energy assets (both Green Electrons and Green Molecules), estimated to cost US$4.3 billion.
