Solarvest Holdings Bhd said Tenaga Nasional Bhd’s (TNB) planned RM15 billion investment in the national grid will be important in supporting industrial expansion and integrating more renewable energy into Malaysia’s power system.
Solarvest group chief executive officer Dato’ Davis Chong Chun Shiong said the extension of green investment tax incentives through 2030 would also give businesses greater certainty to commit capital towards decarbonisation.
He said growing corporate demand for renewable energy under the Corporate Renewable Energy Supply Scheme (CRESS) would require closer collaboration between renewable energy players and TNB on smart grid development, digital energy management and utility-scale battery energy storage systems (BESS).
Chong said a modern and resilient grid would be critical to supporting high-tech industrial hubs, including semiconductor manufacturing in Penang and Kedah’s Kulim Hi-Tech Park, the Automotive Hi-Tech Valley in Perak, and data centre developments in Selangor and Johor.
He added that artificial intelligence of things (AIoT) smart grid solutions could help ease grid congestion, increase the integration of intermittent solar power and improve electricity reliability for industries with critical power requirements.
Beyond domestic infrastructure, Chong said Solarvest was looking to support PETRONAS and TNB in advancing the ASEAN Power Grid, which aims to strengthen regional electricity interconnections, improve energy security and facilitate cross-border clean energy trade.
He said Solarvest remained focused on executing its multi-gigawatt project pipeline and expanding its smart grid capabilities to support Malaysia’s energy transition and ambitions to become a regional clean energy hub.
