Malaysia’s commitment to develop renewable power to strengthen its energy security and promote sustainable development has presented a range of opportunities for businesses in this sector.
According to the Sustainable Energy Development Authority Malaysia (SEDA), the country’s total renewable energy capacity – including biomass, biogas, photovoltaic (PV) and small hydro power systems – is set to grow over the coming year by close to 5000 megawatts (MW).
This will significantly add to the country’s current capacity of renewable energy installations, which stands at more than 200 MW.
Overall, the renewable energy sector in Malaysia is expected to double by 2020, with strong growth in the solar PV, biomass and biogas markets.
Malaysia’s pledge to promote renewable energy goes beyond meeting the needs of its immediate domestic demand. In fact, it aims to become a major global player in the green technology and renewable energy industry in the coming years. The country will be announcing its Green Technology Master plan by early next year, which is expected to propel the growth of Malaysia’s green sector.
Achieving this goal will require coordinated efforts by both government and industry bodies, and most of all, smart engagement with the private sector as well as other global players with a track record in developing and adopting renewable energy solutions.
The European Union, home to some of the leading clean technology (cleantech) companies in the world, is well-positioned to be such a partner. The regional bloc has also set a target for 20 per cent of its energy to come from renewable sources by 2020.
EU Ambassador to Malaysia Luc Vandebon noted that since 2009, the EU’s cooperation on green technology and low carbon growth with Malaysia has been pursued “through an annual policy dialogue and business platform as well as expertise transfer sessions”.
This included the participation of EU companies at events like the International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM), which promoted closer cooperation with local private sector actors, said Ambassador Vandebon.
This year, 30 small and medium enterprises (SMEs) active in the EU cleantech sector will travel to Malaysia to showcase a range of leading renewable energy solutions.
“This is an opportunity to put on display some of the best SMEs the EU has to offer in the field of cleantech,” explained Ambassador Vandebon. “It is an occasion for local companies and European counterparts to meet, build-on, and strengthen Malaysian-EU cooperation in the field of green technology.”
As part of the EU Business Avenues programme, the 30 SMEs will be at the Hilton Hotel in Kuala Lumpur on October 31 to display a range of attractive clean technologies to local players.
These include advanced materials for construction and green building applications, biogas and biomass installations, PV-related module enhancers and optimisers (technologies used to maximize output and monitor performance) as well as cutting-edge power generation and co-generation technologies.
“I look forward to welcoming these SMEs to Malaysia and this event, being the first in a series of fruitful business collaboration initiatives, will provide a platform for Malaysian and EU businesses to grow and deliver on the shared objective of promoting clean technologies” said Ambassador Vandebon.
EU Business Avenues to Southeast Asia seeks to maximise and leverage the dynamic business environment in Asean to deliver significant trade and investment opportunities for EU companies and local players. It aims to promote and strengthen partnerships between European SMEs with unique technology offerings and businesses based in Singapore, Malaysia and the rest of Asean. For more information, please contact singaporeoffice@businessavenues.eu
