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Renewable Energy: Fit 2.0 Quota Applications Open Jan 15-feb 19 Next Year - SEDA Malaysia

Credit : SEDA

PUTRAJAYA, Oct 17 (Bernama) -- The Sustainable Energy Development Authority (SEDA) Malaysia has announced that applications for the Feed-in Tariff (FiT) 2.0 quota of 190 megawatts (MW), will be open from Jan 15 to Feb 19 next year.

SEDA Malaysia said that applications for the FiT 2.0 quota, which includes 50 MW for biogas, 40 MW for biomass, and 100 MW for mini-hydro projects, can be submitted through the e-bidding process via the e-FiT system during this period.

It said that the FiT quota application method has been improved, with the introduction of a two-phase tariff rate concept, where the first phase is for the first 10 years, while the second phase is for eligible companies based on the floor and ceiling tariff rates set for the remaining 11 years, until the end of Renewable Energy Power Purchase Agreement (REPPA) period.

It added that the introduction of the FiT 2.0 quota offer for next year is expected to generate investment of RM2.1 billion and create as many as 4,514 direct and indirect job opportunities in the renewable energy industry.

“These renewable energy projects are expected to begin generating and supplying electricity between 2028 and 2030,” it said in a statement today.

“This initiative is also part of the government's strategy to stimulate the country’s economic growth, especially in the renewable energy sector, while supporting the targets of achieving 40 per cent renewable energy by 2035 and 70 per cent by 2050,” the statement read.

Since the introduction of the Feed-in Tariff (FiT) mechanism in 2011, a total of 1,271.69 megawatts (MW) of FiT quotas have been approved across various renewable sources, encompassing a remarkable total of 9,644 projects throughout Peninsular Malaysia, it added.

SEDA Malaysia said that a briefing session on the FiT 2.0 quota offering has been organised for industry players and stakeholders. More details regarding this offering can be found at www.seda.gov.my.

-- BERNAMA

 

 

 

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