A joint venture between ACEN Corp and ib vogt Singapore is in the final stages of planning an investment in an 80-megawatt (MW) solar project portfolio in Malaysia. The investment is valued at around USD 13 million (EUR 12.2 million), according to a filing by ACEN. This project is part of ACEN’s broader plan to provide up to USD 200 million in equity funding for its joint venture with ib vogt Singapore, called IBV ACEN Renewables Asia Pte.
ACEN and ib vogt Singapore formed their joint venture in October last year. The company was established to develop large-scale solar projects in the Asia-Pacific region. It plans to support at least 1 gigawatt (GW) of solar capacity in countries including Malaysia, Indonesia, Vietnam, Cambodia, Laos, and Bangladesh. The focus is on late-stage, shovel-ready projects that are close to starting construction.
Malaysia has been increasing its renewable energy capacity through various solar projects. Alongside large-scale solar farms, smaller projects have been installed across different regions. A 10 MW floating solar plant at the Tenom Pangi hydroelectric dam in Sabah was recently completed. This system allows solar panels to generate electricity while reducing water evaporation. In Johor, a 5 MW rooftop solar installation at an industrial complex supplies renewable energy to manufacturing facilities.
Other projects include a 3.5 MW solar plant at a palm oil mill in Pahang, which helps power processing operations. A 1.2 MW off-grid solar project in Sarawak supplies electricity to a rural community that previously relied on diesel generators. In Perak, a 900-kilowatt (kW) solar system has been installed at a university campus to provide clean energy for research facilities.
Malaysia continues to develop solar energy through both private and government-led initiatives. Industrial and commercial sectors are adopting rooftop and floating solar installations to reduce dependence on conventional power sources.
