Malaysia aims for 20 percent renewable energy use by 2025
Malaysia now needs investments worth 33 billion MYR (over 7.8 billion USD) in order to achieve its target of 20 percent electricity generation from renewable energy sources by 2025, said a local official.
Minister of Energy, Science, Technology, Environment and Climate Change Yeo Bee Yin (Photo: Internet)
KualaLumpur (VNA) - Malaysia now needs investments worth ꦦ33 billion MYR(over 7.8 billion USD) in order to achieve its target of 20 percent electriciܫtygeneration from renewable energy sources by 2025, said a local official.
Talkingwith the press on September 3, Minister of Energy, Science, Technology,Environment and Climate Change Yeo Bee Yin said the investments will becontributed by the government, public-private partnerships and private sector. Accordingto the minister, authorities built a report on 21 action items to facilitatethe investments, which is being considered by the government. In themeantime, Yeo said, the government will continue all the current incentivessuch as the Green Technology Financing Scheme and the Green Investment TaxAllowance to promote the growth of renewable energy. Statisticsin late August showed that the cost of generating per kilowatt-hour (kWh) fromsolar energy was lower than energy generation from natural gas sources, down upto 45 percent in just a few years. The localmedia said Malaysia is one of the top countries globally in terms of energyconsumption. Environment and health care issues have prompted the country toset many green energy development goals.-VNA
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Minister of Energy, Science, Technology, Environment and Climate Change Yeo Bee Yin (Photo: Internet) 
