Malaysia’s renewable energy sector is buzzing with excitement as the new Corporate Renewable Energy Supply Scheme (CRESS) is set to launch in September. Announced last Friday by the Energy Transition and Water Transformation Ministry, CRESS aims to enhance the country’s renewable energy market by allowing companies to directly purchase green power from suppliers via the existing grid.
Industry experts are hopeful about CRESS despite some details still being finalized. Analysts believe the scheme will reduce entry barriers for renewable power generation and support Malaysia’s goal of getting 40% of its energy from renewable sources by 2035.
Neoh Jia Man of Trade view Capital views CRESS as a positive development that will open Tenaga Nasional Bhd’s power grid to more participants. This, he says, will benefit not only electricity generators but also companies involved in building and maintaining energy infrastructure.
CGS International Research (CGSI) is encouraged by the government’s swift actions on key initiatives under the National Energy Transition Roadmap (NETR), including the introduction of new solar capacity and energy exchanges. CGSI forecasts that TNB and Genetec Technology Bhd will be key beneficiaries of CRESS.
RHB Research highlights that CRESS will offer more competitive energy pricing and flexibility for companies to meet sustainability goals. It expects the scheme to benefit solar engineering firms by boosting commercial and industrial orders.
However, analysts note that challenges such as the System Access Fee (SAF) structure could impact the competitiveness of tariffs under CRESS. Despite this, the initiative is seen as a crucial step forward for Malaysia’s green energy ambitions.
