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Govt's lead in EPC implementation will boost private sector's confidence

For illustration purpose only.

KUALA LUMPUR, Oct 15 -- The implementation of energy performance contracts (EPCs) by the government is expected to boost private sector building owners’ confidence to adopt the EPC model, says Cenergi SEA Sdn Bhd, a wholly-owned renewable energy (RE) company of Khazanah Nasional Bhd.

Under the 2020 Budget, the government said it would accelerate the implementation of EPCs for government buildings, focusing on hospitals and educational institutions.

Cenergi group chief executive officer Ernest Navaratnam said the new measures demonstrated the government’s continuous support and commitment to champion sustainability and would help to fuel the growth of the RE industry.

"Cenergi has always been a strong supporter of the EPC model, which not only generate cost savings for the customers without requiring any upfront investment, but also reduces overall carbon footprint,” he said in a statement today.

The government had also extended the Green Investment Tax Allowance and Green Income Tax Exemption to 2023 under the budget, which would benefit RE companies and businesses in Malaysia and thus help the country to realise its goal of generating 20 per cent of its energy from RE sources by 2025, said Ernest.

Commenting on the government’s decision to migrate the current power purchase agreement (PPA) mechanism towards a wholesale market in the future, he said this would enable RE suppliers to compete directly in the retail market.

"The migration of the PPA system towards direct competition in retail markets will improve competitiveness and transparency in the RE market.

“As such, all industry players will be able to compete directly and to screen desirable projects according to their investment appetite," he added.

-- BERNAMA

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