Malaysia aims for 20 percent renewable energy use by 2025
KUALA LUMPUR, VNA - Malaysia now needs investments worth 33 billion MYR (over 7.8 billion USD) in order to achieve its target of 20 percent electricity generation from renewable energy sources by 2025, said a local official.
Talking with the press on September 3, Minister of Energy, Science, Technology, Environment and Climate Change Yeo Bee Yin said the investments will be contributed by the government, public-private partnerships and private sector.
According to the minister, authorities built a report on 21 action items to facilitate the investments, which is being considered by the government.
In the meantime, Yeo said, the government will continue all the current incentives such as the Green Technology Financing Scheme and the Green Investment Tax Allowance to promote the growth of renewable energy.
Statistics in late August showed that the cost of generating per kilowatt-hour (kWh) from solar energy was lower than energy generation from natural gas sources, down up to 45 percent in just a few years.
The local media said Malaysia is one of the top countries globally in terms of energy consumption. Environment and health care issues have prompted the country to set many green energy development goals. - VNA