Solarvest Accelerates Malaysia Solar Expansion with 6.3 GW Capacity Pipeline Through 2028

Malaysian solar developer Solarvest Holdings Bhd is accelerating the delivery of its large-scale solar projects as demand for renewable energy continues to increase amid rising fossil fuel costs and growing corporate interest in clean energy solutions.

The company is seeking to shorten project execution timelines in order to respond more efficiently to market demand. Davis Chong, Chief Executive Officer of Solarvest, said that while large-scale projects typically require around 18 to 24 months for delivery, the company is engaging with regulators to explore ways to reduce implementation timelines to approximately 12 to 16 months.

Solarvest is one of Malaysia’s leading solar energy companies, developing large-scale solar capacity for electricity supply to the national grid while also providing renewable energy solutions for commercial and industrial customers through direct power offtake agreements.

According to company information, Solarvest plans to add approximately 1.3 GW of solar capacity in 2026 and expand its portfolio by at least another 5 GW through 2028, reflecting the company’s ambitious growth strategy in Malaysia’s rapidly expanding renewable energy market.

The company is also preparing to develop large-scale solar projects for Malaysia’s national electricity utility and grid operator Tenaga Nasional Berhad (TNB) from next year, further strengthening its role in supporting the country’s renewable energy expansion.

Solarvest expects demand for solar energy solutions to continue increasing as higher fossil fuel-based electricity costs encourage businesses to seek more competitive and sustainable energy alternatives. Davis Chong noted that industrial electricity costs supported by fossil fuels are expected to rise further, which could accelerate corporate adoption of solar power.

At the same time, solar module and battery storage costs are expected to remain stable or decline, supported by continued supply availability from China. Solarvest noted that current solar panel prices are approximately US$0.11 per watt, while battery storage costs are around US$100 per kWh, moving closer to China’s price levels of approximately US$60–80 per kWh.

The growth momentum is also being reflected across Malaysia’s commercial solar market. Another Malaysian solar developer, Progressture Power Sdn, reported that customer inquiries increased by at least 40% in April, driven particularly by demand from data centre and semiconductor supply chain companies seeking renewable energy solutions.

Cliff Siaw, Chief Executive Officer of Progressture Power, said that higher energy costs are improving the financial attractiveness of solar investments, as businesses increasingly recognize the potential for faster investment returns through renewable energy adoption.

Malaysia’s renewable energy sector has continued to expand, with Deputy Prime Minister Datuk Seri Fadillah Yusof stating that the country reached 12 GW of renewable energy capacity in 2025.

As Malaysia strengthens its position as one of Asia’s fastest-growing data centre hubs and continues to support industrial development, renewable energy is expected to play an increasingly important role in meeting rising electricity demand. Solar developers such as Solarvest are positioned to benefit from accelerating demand for utility-scale solar projects, corporate renewable energy agreements and integrated clean energy solutions.