Malaysia To Advance in Renewable Energy & Energy Efficiency Agenda
Malaysia's Sustainable Energy Development Authority (SEDA) yesterday signed three (3) memorandums of understanding (MoUs) with Asian Development Bank (ADB), the Japanese Business Alliance for Smart Energy Worldwide (JASE-W) and APX Inc at the 9th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) 2018.
Witnessed by YB Yeo Bee Yin, Minister of Energy, Science, Technology, Environment and Climate Change (MESTECC), these MoUs are expected to help Malaysia advance in their renewable energy and energy efficient policies in the next few years, to achieve the goal of 20 percent of electricity generated from renewable sources by 2030.
We at Sedania are extremely excited that the Government is taking the necessary steps to push policies with regards to renewable energy and energy efficiencies. For an oil-producing country like Malaysia, which is expected to be a net energy-import country by 2020*, we are at a dawn of a new economic era, as the oil peak has passed, and we currently face a depleted fossil fuel sources to generate energy.
This is evident as Petroliam Nasional Berhad (PETRONAS) still noted a reduction in accumulated energy resources, although oil exploration activities accelerated. Coupled by the dramatic surge in energy consumption by a whopping 1021% from 5,114 Kilotonne of oil equivalent (ktoe) in 1978 to 52,209 ktoe in 2014 2 , Malaysia has now entered a phase of intensified energy reorientation to adapt to the new conditions.
YB Pn Yeo Bee Yin also announced that SEDA Malaysia has revoked non-performing Feed-in Tariff (FiT) projects in total of 155.7256 MW last month and will release a total quota of 114.5682 MW for eligible applicants to apply.
According to Minister YB Pn Yeo, SEDA will conduct the inaugural exercise of e-bidding for their
biogas quota. The aim of the e-bidding process is to create a better pricing efficiency for electricity generated from the biogas resources through healthy competition.
*“Malaysia energy markets outlook 2017: shifting to a net energy importer” Wood Mackenzie, 20 February 2017