Chinese solar panel manufacturer LONGi Green Energy Technology is all set to build a module plant in Malaysia.
The company is investing RM1.8 billion to build the Serendah Module Plant in Selangor.
It has been informed that the factory, spread across 140 acres of land, will manufacture photovoltaic products. The project is likely to be completed by early 2024.
According to the country’s Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Malaysia is in a mission to establish the country as a dominant global nexus for trade and industry. He further highlighted the global photovoltaic market’s potential, with estimates pointing to a 29% annual growth rate.
“With LONGi’s projected output of 8.8GW upon the completion of both plant phases, our nation’s global standing in the realm of clean and sustainable energy is set for monumental growth,” the minister was quoted.
To be noted, Malaysia has set a goal to achieve a 20% renewable energy capacity mix by 2025. For this, it has planned large-scale solar projects as outlined in the Malaysian National Energy Policy 2022-2040.
Meanwhile, LONGi informed that it is developing solutions for large-scale power plants addressing the demands of various industries and households.
LONGi shared that it aims to provide “Green Power + Green Hydrogen” solutions, contributing to the global effort for zero-carbon development.
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