Consortium Receives Incentive to Expand Solar Power in Malaysia
The partnership, with expertise from Japan, will help Malaysia expand its renewable energy projects.
The object is to attract more investments into scaling climate technologies.
Solarvest, HSS Engineering, and Shizen Malaysia have recently received approval from the Malaysian Investment Development Authority (MIDA) for the Green Investment Tax Allowance (GITA).
The GITA is a government programme designed to attract investments in climate and green technologies, such as renewable energy, by providing financial support.
The approval was granted for a utility-scale solar power plant project in Kedah, Malaysia. The announcement, as well as the handover of the GITA approval, took place at the Malaysia Pavilion during Malaysia Investment, Trade and Industry (MITI) Week at Expo 2025 Osaka, Japan.
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The event was attended by prominent dignitaries to discuss some of the most pressing issues the world faces today, including topics on sustainable investments and green energy development.
The development of the 29.99 MWac solar photovoltaic (PV) project is part of the Corporate Green Power Programme (CGPP). It is a joint venture between Shizen Malaysia, Solarvest Asset Management, and HSS Engineering, with shareholdings of 49%, 33%, and 18%, respectively.
The project is an example of how international collaboration can bring world-class innovation and environmental responsibility to a nation.
Davis Chong Chun Shiong, Executive Director and Group Chief Executive Officer of Solarvest, said: “We are honoured to receive the GITA approval from MIDA, which underscores the government’s confidence in our capabilities and commitment to clean energy. This incentive boosts the financial sustainability of the SM01 project and demonstrates the value of international collaboration, particularly with our esteemed Japanese partner, Shizen.
"As we accelerate our involvement as a renewable energy infrastructure developer, we remain focused on delivering impactful, reliable, and commercially viable clean energy projects in Malaysia by leveraging international partnerships and innovation-driven solutions.”
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Source: Solarvest
