The Malaysian government and the Sustainable Energy Development Authority (SEDA) have revealed its long-term goal to generate 24% of the country’s electricity from renewable sources by 2050.
They are targeting a solar energy production capacity of 1000 MW by 2020 then to over 17 GW by 2050 from 338 MW currently.
The recent launch of the NetMetering program will enable homeowners as well as industrial and commercial sites to sell surplus solar energy to utilities.
If successful, the move will drive demand for solar panels, giving renewable energy companies a beachhead into a new market.
1. Cypark Resources Berhad (KLSE: 5184)
Cypark is already a contender in the solar space with an electricity production capacity of 30.6 MW.
The company offers construction, power production, environmental engineering and energy storage services, all of which are increasingly indispensable to its viability in the solar energy industry.
The company is planning to