Fadillah, who is also the deputy prime minister, said the government is in the midst of finalising the Corporate Renewable Energy Supply Scheme (CRESS), which is scheduled for completion next month.
“We will gather feedback from stakeholders on CRESS, present the government’s proposal, and discuss the charges.
“While we already have a figure in mind, we cannot publish it until it is finalised and agreed upon by all sectors,” he said at a press conference during the 6th International Sustainable Energy Summit (ISES) 2024.
The summit is organised by the Sustainable Energy Development Authority (SEDA) Malaysia, held on Aug 20-21, 2024 at the Kuala Lumpur Convention Centre.
Earlier, he said that the government would continue to expedite and enhance the implementation of an open grid mechanism, facilitating increased access to green electricity for businesses through third-party corporate purchase agreements.
“We are strategically transitioning away from a single-buyer model for renewable energy (RE) development to effectively de-risk the national electricity supply system, fostering greater participation and competition within the power supply industry and among RE stakeholders” he said.
Fadillah emphasised that the shift will foster a competitive market for RE, leading to cost reductions, enhanced investor confidence and accelerated deployment of clean energy technologies.
“Concurrently, SEDA Malaysia will be conducting a bioenergy cluster study in sourcing green electricity from non-solar resources which will be permitted under CRESS,” he said.
He noted that the government will continue to promote the development and deployment of non-solar RE resources such as biogas, biomass, and mini-hydro to diversify the country’s power generation sources while ensuring energy system security and reliability.
“So far, we see that the fastest and most affordable option is solar energy, through large-scale solar (LSS) projects, namely LSS1 to LSS5, which is conducted via open tenders.
“We are also looking at biogas, biomass, and mini hydro projects, which will also be implemented through open tenders,” he said.
SOURCE : BERNAMA
