Gentari Steps Up Push For 30-40 GW Renewable Capacity By 2030

By Siti Radziah Hamzah

KUALA LUMPUR, April 20 (Bernama) -- Global clean energy company Gentari is strengthening efforts to achieve its target of 30 to 40 gigawatts (GW) of renewable energy (RE) capacity by 2030, underpinned by rapid growth but contingent on market readiness and returns.

Gentari chief strategy and portfolio officer M Huzaini Ghazali said the company remained committed to the target, although delivery would depend on both execution capability and external conditions.

“We are still pushing. I would not completely guarantee it, but I would not say that we are not too far off,” he told Bernama.

Huzaini noted that Gentari’s capacity has expanded from about 0.4 GW to 9,100 to-date, both in installed and under construction.

He emphasised that this growth trajectory demonstrated Gentari’s ability to scale, but cautioned that achieving the full target would also hinge on whether markets are able to provide the returns required to justify continued capital deployment.

“Whether or not we get there is not only dependent on our continued ability to do so. It is also determined by the market readiness in terms of giving us the returns that we require,” said Huzaini. 

Gentari’s growth momentum has been supported by improving policy and market conditions, particularly as governments and corporations accelerate the shift towards cleaner energy amid rising conventional fuel costs.

“For countries like Malaysia, it is now the impetus for us to accelerate our growth in clean energy, from a government and policy perspective as well as an ambition of a nation,” he said.

Huzaini said that rising hydrocarbon-based energy prices were prompting corporations to reassess their energy sourcing strategies, with renewables offering long-term cost certainty due to high upfront capital expenditure and relatively low operating costs, allowing pricing visibility over extended periods.

While Gentari continues to assess merger and acquisition opportunities, these would not be pursued solely to boost capacity, with priority on returns and portfolio fit.

The company currently operates across Malaysia, India, Australia and Taiwan, with the bulk of its installed capacity in India. 

-- BERNAMA