Malaysia prioritizes adoption of green energy in Budget 2024

Malaysia has prioritized the adoption of green energy as part of measures announced in its Budget 2024.

In the Budget 2024 tabled today, Prime Minister Datuk Seri Anwar Ibrahim demonstrated Malaysia’s commitment towards its transition to renewable power.

According to Gentari Sdn Bhd chief executive officer Sushil Purohit, the government has used Budget 2024 to further boost previous initiatives like the National Energy Transition Roadmap (NETR).

He was quoted in a statement, “The government’s call for increased residential solar installations is a welcomed one. Furthermore, we are proud to work with the government and with Tenaga Nasional Berhad to enable the low carbon green city of Putrajaya through installation of solar panels in government and commercial facilities by 2024 with a cumulative solar PV capacity of 3MW and potential capacity up to 20MW by 2030.”

The Malaysian government has come up with measures including extending financial incentives towards EV adoption. It has matched with private companies’ efforts for Malaysia’s green mobility landscape.

The latest budget has also encouraged Malaysians to adopt electric vehicles to accelerate the country’s shift to green energy.