COVID–19 NEWS   COVID-19: Over 1.1 million kids in Malaysia fully vaccinated | MOH does not plan to extend PICKids | COVID : 30.4 pct of children in Malaysia fully vaccinated | N Korea reports one additional death amid COVID-19 outbreak | S Korea to resume issuing short-term travel visas, e-visas next month | 
BUSINESS

Maybank IB maintains 'positive' outlook on RE sector

13/01/2022 11:32 AM

KUALA LUMPUR, Jan 13 -- Maybank Investment Bank (Maybank IB) has maintained its "positive" outlook on the renewable energy (RE) sector following the launch of Malaysia Renewable Energy Roadmap (MyRER) 2022-2035, recently.

It said the strategic pillars for the RE growth will continue to leverage on the existing untapped resources, namely solar photovoltaic (PV), bioenergy and hydro, with new technologies and resources also expected to support the MyRER post-2025.

The roadmap is expected to boost RE from 23 per cent or 8.45 gigawatts (GW) of national installed capacity mix in 2020 to 31 per cent in 2025 and 40 per cent in 2035.

In a note, the investment bank noted that solar PV will be the main contributor to RE additions, along with other energy pillars to increase RE capacity including bioenergy, hydro as well as potential new technology and solutions post-2025.

"As of 2020, solar PV accounted for 1.5GW of RE capacity and this is expected to jump to 4.7GW by 2025 and 7.2GW by 2035," it said. 

On prospects in 2022, Maybank IB expects earnings recovery for RE stocks as movement restrictions are eased and work momentum for solar installations catches up.

It has also maintained its "Buy" calls for Solarvest Holdings Bhd and Cypark Resources Bhd.

"Strong order book for Solarvest at RM635 million will continue to support earnings growth. Meanwhile, the earnings profile for Cypark is expected to improve as its RE portfolio is set to grow from financial year 2022 onwards," it added.

-- BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy