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BUSINESS

SEDA Malaysia announces 34 winners of 2021 FIT quota e-bidding exercise

10/05/2022 03:06 PM

KUALA LUMPUR, May 10 (Bernama) -- The Sustainable Energy Development Authority (SEDA) Malaysia has awarded feed-in tariff (FiT) quotas totalling 174.672 megawatts (MW) for biogas, biomass and small hydropower resources to 34 companies.

In a statement today, SEDA Malaysia said it had opened the application, via e-bidding, for the 2021 FiT quotas totalling 187.805MW in June last year.

“The response was encouraging with 66 companies participating, involving a total capacity of 452.842MW, or an increase of 57 per cent compared with 42 companies participating in 2020 involving a total capacity of 365.552MW.

“This growth represents progress for Malaysia’s renewable energy (RE) industry,” the agency said.

SEDA Malaysia said the offer of these FiT quotas was expected to generate investments totalling RM1.56 billion and create 526 job opportunities in the RE indusry.

For further information on the results of the FiT quota applications for 2021, visit SEDA Malaysia’s portal at www.seda.gov.my.

Meanwhile, the agency said an announcement on the application for FiT quotas for 2022 would be made in the near future by Energy and Natural Resources Minister Datuk Seri Takiyuddin Hassan for the continuity of new projects under the FiT mechanism towards achieving the target of 31 per cent RE share in Malaysia’s power capacity mix by 2025 and 40 per cent by 2035.

"We hope more developers will participate by applying for the FiT quotas for 2022 and thus expand the nation’s RE industry,” said SEDA Malaysia.

-- BERNAMA


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