KUALA LUMPUR, November 18 — A significant partnership for green energy projects was unveiled on October 6th. The Malaysian Green Technology and Climate Change Corporation (MGTC) joined forces with Biotek Dinamik Sdn Bhd, a company dedicated to renewable energy and climate change mitigation, to drive global decarbonization efforts. This collaboration extends to working closely with the State Power Investment Corporation (SPIC) of China, one of the world’s largest clean energy producers.
The partnership’s focus is to advance green energy initiatives within Malaysia, specifically in creating “Green Electrons” and “Green Molecules” assets. “Green Electrons” emphasize green power, while “Green Molecules” concentrate on green hydrogen and bioenergy. Datuk Eddy Yap, Executive Chairman of Biotek Dinamik Sdn Bhd, stated that the company plans to launch the Malaysian chapter of the Asian Green Energy Belt (AGEB) project in the final quarter of this year. The AGEB project involves developing 5 gigawatts (5GW) of green energy projects, starting in 2024 and spanning until 2030.
These projects will harness green or renewable energy sources, including solar, wind, biomass, biogas, geothermal, and hydroelectric across Asia. Ts. Shamsul Bahar Mohd Nor, GCEO of MGTC, emphasized that the AGEB objectives align with Malaysia’s national energy policies and the United Nations Sustainable Development Goals (UNSDGs) in the pursuit of energy transition and net-zero carbon. The Asian Green Energy Belt aims to become a green energy flagship project, primarily focusing on Green Power and Green Hydrogen assets development.
AGEB’s mission is to decarbonize national and regional economies through sustainable development and responsible investment in green energy generation, establishing Malaysia as a leading player in the region’s transition towards a sustainable and greener future. To ensure the project’s success, Biotek Dinamik Sdn Bhd is partnering with SPIC, one of the world’s largest clean energy producers, to bring proven technical capabilities and sound financials to the project. SPIC’s current installed solar photovoltaic capacity stands at 60GW, with businesses spanning across 46 countries.
For the project’s implementation in Malaysia, MGTC is the strategic partner, ensuring alignment with government policies and industrial guidelines, while SPIC is the project’s EPCC (Engineering, Procurement, Construction, and Commissioning) partner and investor. Phase 1 of the Malaysian chapter of the AGEB project involves developing 1GW of Solar to Hydrogen and is estimated to cost approximately US$1.2 billion. Phase 2 of the project comprises developing 4GW of green energy assets (both Green Electrons and Green Molecules) and is estimated to cost US$4.3 billion.
The total investment over the next eight years for the planned 5GW project is estimated to be US$5.5 billion. Both parties expressed gratitude to the Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi bin Nik Ahmad, for his presence at the event to witness this momentous occasion. The AGEB project is seen as a transformative step in reshaping Malaysia and Asia’s energy landscape, aligning with the National Energy Transition Roadmap (NETR) and steering the nation toward a carbon-neutral society.
