Semarak Renewable Energy Sdn Bhd (SeRenE), a key player in Malaysia’s renewable energy sector, has secured a financing package of RM1.88 billion (US$400 million) for its groundbreaking green hydrogen project in Perak. This initiative positions Malaysia as a leading green hydrogen producer, leveraging innovative floating photovoltaic power generation technology.
Managing director Mohammad Shahil Ishak expressed enthusiasm for the project’s potential impact on various sectors, such as automotive and shipping, drawing parallels with Japanese automakers’ investments in hydrogen technology.
The project, based in Perak, focuses on green hydrogen production using floating photovoltaic power generation, emphasizing its reliance on clean energy sources, and distinguishing it from conventional hydrogen production methods.
Mohammad Shahil highlighted the project’s viability, profitability, and potential to position Malaysia at the forefront of the global green energy landscape.
The funding, facilitated by Capitale Ventures and Chalfouh LLC, was finalized in Singapore on Feb 20, 2024.
SeRenE and PowerChina’s subsidiary China Hydropower (Malaysia) Co Ltd had earlier signed an RM1.88 billion deal on Jan 17 for the green hydrogen project, involving the redevelopment of an abandoned tin ore lake, contributing significantly to Malaysia’s green and low-carbon transformation.
