The Malaysian energy market is undergoing a transformation to achieve its green goals.
The government’s LSS5 solar program aims for a total capacity of 2 GW of renewable energy, aligning with the National Energy Transition Roadmap (NETR) to reduce carbon emissions and establish Malaysia as a low-carbon nation by 2040.
To support these ambitions, the government plans to adopt a third-party access mechanism and establish a renewable energy trading center, facilitating cross-border renewable energy exports and accelerating the energy transition in Southeast Asia.
A Strengthened Collaboration
GreenRock’s participation in Malaysia’s large-scale solar project demonstrates its ambition for international expansion and strong capabilities in the renewable energy sector.
Despite the complexity and intense competition of local policies, the collaboration with Solarvest will overcome these challenges through their combined expertise.
Solarvest’s Market Leadership
Solarvest, a leader in the Malaysian solar market, boasts a track record of 1.2 GW of projects in the region. It provides comprehensive services, including development, design, construction, operation, maintenance, and management of solar assets.
Beyond Malaysia, Solarvest has expanded its operations to six other Asian countries: Taiwan, Singapore, the Philippines, Vietnam, Thailand,and Indonesia.
In partnership with GreenRock in Taiwan, Solarvest is working on large-scale agrivoltaic and floating solar projects, targeting 500 MW of projects.
Strategic Gateway to Southeast Asia
Malaysia is considered a strategic gateway for expanding the green energy footprint in Southeast Asia.
Recognizing favorable government policies and growing demand for renewable energy, GreenRock will leverage its local collaborations to enhance its technical and regional project management capabilities.
Ambitious Partnership Goals
This partnership, aiming for 1 GW of renewable energy projects in the next five years, marks a significant milestone for a Taiwanese company in the Malaysian market.
GreenRock anticipates regional expansion by building on Solarvest’s strengths, fostering energy transformation and sustainable development in the region.