In the ever-evolving landscape of renewable energy, China emerges as a pivotal player, wielding substantial influence over global clean energy deployment. According to a latest report from the International Energy Agency (IEA), 2023 marked a significant milestone, witnessing a remarkable surge in clean energy installations worldwide. Solar PV and wind energy installations surged by 85% and 60%, respectively, with nearly 540 GW of capacity additions globally. Notably, China spearheaded the majority of these advancements, underscoring its dominance in the renewable sector. However, while clean energy deployment soared, it remained heavily concentrated in advanced economies and China, leaving other regions behind.…
Author: Lakshita Kapoor
In a move towards sustainable energy initiatives, Bank Islam Malaysia Berhad recently solidified its commitment to Malaysia’s energy transition efforts by signing a financing agreement with Sand Town Solar Sdn Bhd (STS) worth RM91.5 million. The signing ceremony, held in Kuala Lumpur recently, was attended by Malaysia’s Deputy Prime Minister and Energy Transition and Water Transformation Minister, Datuk Seri Fadillah Yusof, underscoring the significance of the occasion. The agreement marks Bank Islam’s pioneering role as the first Islamic banking institution to provide financing facilities for private companies under the New Enhanced Dispatch Agreement (Neda) mechanism. Ahmad Haliman Abd Halim, Bank…
Solarvest Holdings Bhd’s subsidiary, Solarvest Energy Sdn Bhd, has secured a deal with Gentari Renewables Sdn Bhd to install solar power systems at more than 300 Petronas stations in Malaysia by 2027. Solarvest Energy is a Malaysian renewable energy company. This partnership signals a stride in Malaysia’s shift towards renewable energy, aligning with the nation’s renewable energy objectives, Solarvest announced. The initiative underscores a growing commitment to environmental, social, and governance (ESG) principles within the oil and gas sector, solidifying its pivotal role in Malaysia’s energy transition journey, according to Solarvest. Commencing in April 2024, the project aims to deploy…