Parliament Monday passed the Renewable Energy Act 2010 bill which is aimed at developing renewable energy in a more aggressive manner.
Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui said under the bill, the Government proposed to implement the feed-in tariff system which was deemed suitable for the country.
“We’ve studied similar mechanisms in other countries and made comparisons with the ones adopted in developed countries. And we feel that the feed-in tariff system is good and suitable for our country,” he said when winding-up debate on the bill here.
When tabling the bill in December last year, Chin’s deputy Noriah Kasnon said the Government aimed to have 2,080MW in renewable energy capacity by 2020.
Under the bill, the Government would offer competitive rates to buy power generated by individuals and companies in efforts to encourage them to invest in renewable energy projects.
