Terengganu launched the Cypark Merchang Hybrid Solar Energy (CMHSE) project, marking a significant milestone in Malaysia’s renewable energy landscape, as cited by MIDF Amanah Investment Bank Berhad in their report today (July 11, Thursday).
MIDF maintains a POSITIVE outlook on renewables, highlighting Terengganu’s strategic initiative to boost its solar energy capacity with the CMHSE project, consisting of 35 MW of floating solar and 65 MW of ground-mounted solar installations. This move aligns with Malaysia’s National Energy Transition Roadmap (NETR) and Renewable Energy Roadmap (MyRER), aiming for a substantial increase in renewable energy generation to over 30% by 2025.
The CMHSE project, officiated by Prime Minister Datuk Seri Anwar Ibrahim, not only enhances Terengganu’s renewable energy output by an additional 100 MW but also positions the state as a pioneer in solar energy development in Malaysia. MIDF underscores the importance of investing in skills development for workers involved in solar energy operations, which is crucial for the project’s long-term efficiency and safety, particularly in managing the unique challenges posed by floating solar installations.
Investment opportunities abound in Terengganu following the CMHSE launch, with potential sectors including downstream industries at Silica Valley, emerging technologies at Terengganu Tech Hub, bioeconomy initiatives at Kerteh Biopolymer Park, and mini hydropower projects in Sungai La. The House emphasises the need for robust environmental policies to mitigate ecological impacts associated with solar installations, balancing energy needs with environmental sustainability.
MIDF views the CMHSE project as a catalyst for economic growth in Terengganu, reinforcing its position in the renewable energy sector while supporting ancillary industries.
