Solar PV in most Malaysia's SME and residential soon? 

KUALA LUMPUR 3 July - More residential and small-to-medium enterprise (SME) sectors in Malaysia will soon be provided with sustainable energy through solar photovoltaic (PV) system start-up. 

The innovation is a part of Petronas Ventures second investment initiative in SOLS Energy Sdn. Bhd. which aims to strengthen its commitment in the renewable energy space as a solutions partner.

The transaction is expected to be completed in end of July this year.

Head of Petronas Ventures, Mohd. Azli Ishak on behalf of the corporate venture capital believes the investment will complement Petronas’ New Energy business growth in the solar market.

“The initiative with SOLS Energy is in line with Petronas’ Sustainability Agenda and the United Nations’ Sustainable Development Goals (SDGs) 4, 7, 8 and 13 that focus on the provision of quality technical education to youths, promotion of sustainable economic growth as well as reduction in greenhouse gas emissions through generation of clean energy,” said him in a statement today. 

The recently inked agreement sees a huge potential market size of solar PV system adoption in Malaysia and South East Asia in align with the government’s regulation on Net Energy Metering and lower equipment cost.

In the related matter, SOLS Energy’s Chief Executive Officer, Raj Ridvan also believes that the solar PV system adoption is at an inflection point in Malaysia.

Notably, SOLS Energy is an innovative one-stop solution company that designs, distributes, maintains and installs high quality solar energy system at a competitive rate.

The graduate of Petronas’ FutureTech Accelerator programme in 2019, SOLS Energy also runs the first Solar Academy in Malaysia that offers technical skills in the solar industry and personal development training to local youth. - DagangNews.com