Tenaga Nasional Berhad, A Kuala Lumpur-based electricity company, is seeking to repurpose man-made reservoirs and hydropower facilities in Malaysia for hybrid hydro-floating solar (HHFS)development. Government initiatives in line with the Renewable Energy Development Program have reduced the cost of installing solar photovoltaic systems in the country by up to 50% since 2011, spurring broad interest from state as well as foreign developers in the industry. Tenaga Nasional’s program, in partnership with domestic installers and state agencies overseeing Malaysia’s National Energy Transition Roadmap, is set to initially install 30 MW of solar capacityat Chenderoh Hydro reservoir as part of the program’s launch this year.
Bids will be opening to jointly develop a total of 2.5 GW HHFS infrastructure country-wide under Tenaga Nasional’s initiative. This is important to watch for U.S. energy companies given foreign investment and renewable energy liberalization trends in ASEAN states. Last year, Malaysia signed an MOU with multinational private equity investors to develop a 1-gigawatt solar plant in Johor state. The scale of such a project, as with Nasional Berhad’s HHFS, demands a level of multilateral collaboration, whether it be a joint venture or some degree of foreign ownership.Learning how to best implement solar technologies and navigate renewable energy initiatives inbusiness environments such as Malaysia are key to ensuring practical and cost-effective decarbonization in ASEAN.
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