Malaysia's Clean Energy Future: Budget 2025 and Gentari's Optimism
Key Ideas
- Gentari, a clean energy company in Malaysia, is optimistic about the government's support in Budget 2025 for clean energy adoption, particularly in solar and hydrogen initiatives.
- The allocation of over RM300mil to the National Energy Transition Facilitation Fund signals a boost in efforts towards large-scale renewable energy projects like the Kenyir Hybrid Hydro Floating Solar and Green Hydrogen Hub.
- Initiatives such as EV incentives, carbon tax introduction, green bonds, concessional financing, and tax incentives for early-stage projects aim to accelerate progress and lower barriers to entry in the clean energy sector.
- The government's focus on stimulating demand for clean energy and streamlining regulatory processes to speed up infrastructure development sets the stage for Malaysia to become a preferred destination for clean energy investments, fostering innovation and growth in the sector.
Clean energy company Gentari in Kuala Lumpur, Malaysia, is positive about the government's support in Budget 2025 to accelerate clean energy adoption. CEO Sushil Purohit highlighted the allocation of over RM300mil to the National Energy Transition Facilitation Fund, emphasizing the boost it will provide to solar and hydrogen initiatives. Notably, projects like the Kenyir Hybrid Hydro Floating Solar and Green Hydrogen Hub in Terengganu showcase the government's commitment to advancing large-scale renewable energy and hydrogen projects. Gentari welcomes the EV incentives and the introduction of a carbon tax on industries like metal, steel, and energy by 2026, as steps towards encouraging investments in clean energy solutions. To further drive progress, green bonds, concessional financing, and expanded tax incentives for early-stage projects are proposed to lower barriers to entry. The government's efforts to stimulate demand for clean energy and streamline regulatory processes aim to speed up infrastructure development and set industry standards for EV charging networks. By fostering a stable and predictable policy environment, Malaysia aims to attract investments and drive innovation and growth in the clean energy sector.