Malaysia needs investments totalling RM33 billion to achieve its target of 20 percent electricity generation from renewable energy sources by 2025, said Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin.
"It gave a report on 21 action items to facilitate the RM33 billion investment in renewable energy, and the government will look at all the action items and implement them accordingly," she told reporters after officiating the inaugural 5-In-1 Power and Energy Asia Series exhibition in Kuala Lumpur today.
She said the lower cost of solar generation was due to the advanced solar panel development technology that allowed the project to be bid at a cost of as low as 17.77 sen per kWh. Citing an example, she said in the LSS3 bidding which had just been completed, the first four projects which encompassed 365 MW out of 500 MW were actually bid below the gas-generation price of 23.22 sen per kWh.
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RM33 billion investment in renewables needed to hit generation target, says Yeo | The Malaysian InsightCost of solar power is now cheaper than natural gas, and is set to go down further, says minister.
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