KUALA LUMPUR, 11 October 2025 — Solarvest Holdings Berhad has welcomed Budget 2026 as a decisive step in reinforcing Malaysia’s low-carbon transition and strengthening the nation’s competitiveness within the ASEAN renewable energy sector.
The government’s continued focus through the National Energy Transition Roadmap (NETR), supported by RM150 million under the National Energy Transition Fund and RM3 billion via BPMB’s Green Investment Fund, demonstrates strong policy continuity and confidence in advancing Malaysia’s renewable agenda.
Key initiatives such as LSS6 and Battery Energy Storage System (BESS) incentives are set to further solidify the country’s trajectory towards achieving 70% renewable energy capacity by 2050.
“Solarvest is ready to support the government’s clear direction, including the rollout of 2 GW of new capacity under LSS6, unlocking RM6 billion in market opportunities, and the Corporate Renewable Energy Scheme (CRESS), which is expected to generate RM3.5 billion in investments,” said Dato’ Davis Chong, Executive Director and Group Chief Executive Officer of Solarvest.
“These initiatives, along with the RM16.5 billion commitments by GLICs and GLCs, will further strengthen investor confidence and catalyse public-private collaboration.”
Highlighting the broader regional potential, Chong added, “The ASEAN Power Grid initiative presents Malaysia with an opportunity to position itself as a clean energy exporter and regional connector.
“For this vision to succeed, the government must empower local renewable energy players, strengthen industry linkages, and facilitate partnerships with regional counterparts. This will ensure Malaysian businesses are not just participants but leaders in the cross-border energy transition.”
On solar adoption and enhancing grid flexibility, Chong emphasised the importance of balancing expansion with stability.
“While scaling renewable generation is key, equal focus must be given to grid stability. Targeted incentives for BESS components, including SST, import, and excise duty exemptions, would improve cost efficiency for power producers and accelerate nationwide adoption,” he said.
Chong also underscored the importance of technical and vocational education and training (TVET) and stronger university–industry collaboration to develop a future-ready workforce skilled in renewable energy, AI, and transition technologies.
He further welcomed the government’s plan to introduce a carbon tax in 2026, noting that it highlights Malaysia’s long-term commitment to decarbonisation and reinforces our net-zero aspirations.
Solarvest reaffirmed its commitment to collaborating closely with government agencies, private enterprises, and regional partners to drive Malaysia’s green economy growth both domestically and across ASEAN.
