Pekat - a sustainable business with sustainable projects... Projects secured for 2024 - Tok Bali Kelantan 1MWp, Kuala Penyu Sabah 1.7MWp, Hybrid solar PV at Langsat CSTP Kajang, Off-Grid solar PV system at Setapak Central Mall, with MPF-Solar 6.5MWp, and the development of a 29.99-MWac solar power plant project under the corporate green power programme (CGPP) conducted by the Energy Commission.
Is the solar panel industry a growth sector in Malaysia this year?
G Gemini: Yes, the solar panel industry is expected to be a strong growth sector in Malaysia in 2024 and beyond. Here are some of the factors driving this growth:
Government support: The Malaysian government has ambitious renewable energy targets and has implemented various policies to support the solar industry, such as the Net Energy Metering (NEM) program and the Large Scale Solar (LSS) program. These programs provide financial incentives for businesses and individuals to install solar panels.
Declining solar panel costs: The cost of solar panels has been declining steadily over the past few years, making them more affordable for businesses and individuals.
Increasing awareness of climate change: Malaysians are becoming increasingly aware of the need to address climate change, and solar energy is seen as a clean and sustainable alternative to fossil fuels.
Strong economic growth: Malaysia's economy is expected to grow by around 4% in 2024, which will boost demand for energy. Solar energy can help to meet this demand in a sustainable way.
Here are some of the specific predictions for the growth of the solar panel industry in Malaysia:
Mordor Intelligence predicts that the Malaysian solar energy market will grow at a CAGR of more than 9% during the period 2023-2028.
HLIB Research expects the renewable energy industry in Malaysia to see strong growth in 2024, driven by the Corporate Green Power Programme (CGPP), which is expected to generate between RM2.7 billion to RM3 billion of EPCC contract flows.
Overall, the outlook for the solar panel industry in Malaysia is very positive. The government's support, declining costs, and increasing awareness of climate change are all factors that are likely to drive growth in the sector in the coming years.
Locally, MFCB and Pekat Bhd have established a 55:45 joint venture (JV) called MFP Solar Sdn Bhd to undertake solar projects of up to 10MW in Malaysia, believed to give far better investment returns of 10% to 12%. MFP Solar would be an engineering, procurement, construction and commissioning contractor to undertake the installation of solar power projects on rooftops of industrial and commercial buildings under various models, namely build–operate–transfer, outright sale or leasing. MFCB would ride on Pekat Teknologi’s vast experience in the solar industry. For a start, the JV intends to tap multinational companies for opportunities.
In 2022, MPF-Pekat installed solar PV on 16 sewage plants of IWK (project value RM18.1 million of estimated energy generation: 8 GWh per annum).
Ten years ago in 2014, Tan Sri Bashir installed solar power on KLIA that generated 26MW of energy that saved more than RM 2M of energy costs per year...plus other green technology that put KLIA and KLIA2 the most energy-efficient airport in Malaysia.
Today, let's watch how energy-efficient is the new Airports(MAHB) team...knowing that... Penang is a major industrial hub, contributing significantly to the national economy and relying solely on an aging power plant (Sultan Abdul Halim power station) that has faced several power outages. There are major concerns on its reliability and potential power disruptions....
The future energy sufficiency of Penang for its factories and International airport depends on the successful implementation of these solutions and the ability to meet the ever-increasing demand of green energy....
Malaysian homebuyers surging interest in solar panels because of heat wave and new electric cars? Imported pets and young children need air-conditioning whole day? What's next? All playschools & schools need air-conditioned classrooms too? Welcome to New Malaysia...a tropical isle that never runs out of energy...
Air Conditioning and AI Are Demanding More of the World’s Power—Renewables Can’t Keep Up. Renewables can’t keep up with growth, which means more coal and more emissions............
Max2838, valuation is just a number. To make big money, ideally is to buy a company at low valuation and hold it till it reaches high valuation then only sell. For example, PE upgrade from 5x, 10x, 15x, 20x, 25x, 30x and beyond. This is how we can compound wealth and make big money.
A stock can keep going higher as long as fundamentals are in tact. Look at YTL Power, PGF Capital, TAS Offshore, Frontken, QL, MFCB. We want to ride these type of stocks for years.
Rumors say Kinergy Advancement (KAB) is venturing into solar power, floating solar, battery storage, waste heat recovery, and waste-to-energy projects and is making a major expansion in Kedah ! This probably will be the next significant step for their growth. Worth to look into it 🙂
More and more companies venturing into Solar. This reminds me of those days. When oil and gas euphoria. All jumped into the bandwagon. It was a disaster when everything goes south!! This is happening in Solar. Musical chair.
Revenue from solar down but revenue from earthing & lightning protection up. Sad to see it is unable to grow its solar installation bizness for past 6 mths. Eventually back to its roots as an ELP solutions provider....
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cbkia4896
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Posted by cbkia4896 > 2023-01-31 20:15 | Report Abuse
i thought got chance get unpekat, but mcm no power liao