| Putrajaya, Tuesday (3 December 2013): The Chairman of Sustainable Energy Development Authority (SEDA) Malaysia Y.Bhg. Datuk Dr Yee Moh Chai today echoed the announcement made on Monday, 2nd December 2013 by the Minister of Energy, Green Technology and Water regarding the revised surcharge on electricity bill for the Renewable Energy (RE) Fund. Effective 1st January 2014, the surcharge will be revised from 1.0% to 1.6% for distribution licensees such as Tenaga Nasional Berhad (TNB). It is to be noted for Sabah Electricity Sdn Bhd (SESB) consumers this is the first time a 1.6 % surcharge on electricity bill will take effect. The RE Fund is created via Section 23 of the Renewable Energy Act 2011 through the implementation of the Feed-in Tariff (FiT) mechanism enabling electricity generated from renewable sources to be paid a premium tariff. The FiT mechanism was implemented on the 1st December 2011 with the enforcement the RE Act 2011. However not all electricity consumers are obliged to contribute to the RE Fund. While the RE Fund is critical to ensure the sustainable growth of renewable energy, the Government is mindful to protect consumers with 300 kWh and less of electricity usage (equivalent to RM77) who will be exempted from such contribution. In Peninsular Malaysia only 29% and 38% from Sabah, of the total domestic electricity consumers will be affected. source : http://seda.gov.my |
Showing posts with label RE Fund. Show all posts
Showing posts with label RE Fund. Show all posts
Thursday, December 5, 2013
Surcharge on Electricity Bills for Renewable Energy Fund Revised from 1.0% to 1.6%
Monday, March 19, 2012
Time frame set for renewable energy to impact electricity supply
PUTRAJAYA: A three-year time frame is being set for renewable energy (RE) activities to kick off with expected higher funding and quotas.
“We are now at the stage of looking at this preliminary period in the implementation process,” Minister of Energy, Green Technology and Water Datuk Seri Peter Chin told StarBiz.
“We would like to see a higher level of RE being generated in the future. But it is better to be more cautious and look at what this preliminary process is like in our implementation and the administration process by the Sustainable Energy Development Authority Malaysia (SEDA Malaysia). We have to learn from this preliminary phase before we proceed in a more aggressive manner.
We are looking at about three years to see how this RE is performing especially with solar energy. — Datuk Seri Peter Chin
“We are looking at about three years to see how this RE is performing especially with solar energy for which the cost of solar production is getting lower and lower.”
On the progress of the RE sector, Chin said: “We are restricted by the amount in the kitty called the RE Fund for which we can only collect 1% from each account holder of Tenaga Nasional Bhd. Therefore, the quota that is being created to implement this feed-in tariff has to be rather small.
“Because of that, it will take time for RE to really take effect in terms of the impact that it can create on the total electricity supply.
“If the fund is higher, the quota can be increased and more RE can be generated. That will be good for the country in terms of emission of carbon and the fact that RE is considered a cleaner source of energy.”
Currently, 398 applicants have received the feed-in approvals. Out of these, 71 have signed the standardised renewable energy power purchase agreements (REPPAs).
FIT payments can only be made to those developers who have signed the REPPAs and implemented their projects successfully.
Industry players suggest there should be a liability imposed on those who have not implemented their projects as money is a scarce resource.
“In fact, they should be relieved of their allocation so that others can take their place. Deadlines should be set for implementation; under the REPPAs, there may be deadlines stipulated but who is actually monitoring all this?” asked an industry player.
SEDA Malaysia acts as a one-stop centre to facilitate interested parties in all matters related to RE; it is also working with relevant training institutes to set up a centre of excellence for each RE source.
In terms of research and development, SEDA Malaysia is working on an R&D roadmap for RE.
It has also been tasked to raise awareness on RE; one main awareness programme that has been planned is a sustainable energy conference.
Source: The star
“We are now at the stage of looking at this preliminary period in the implementation process,” Minister of Energy, Green Technology and Water Datuk Seri Peter Chin told StarBiz.
“We would like to see a higher level of RE being generated in the future. But it is better to be more cautious and look at what this preliminary process is like in our implementation and the administration process by the Sustainable Energy Development Authority Malaysia (SEDA Malaysia). We have to learn from this preliminary phase before we proceed in a more aggressive manner.
We are looking at about three years to see how this RE is performing especially with solar energy. — Datuk Seri Peter Chin
“We are looking at about three years to see how this RE is performing especially with solar energy for which the cost of solar production is getting lower and lower.”
On the progress of the RE sector, Chin said: “We are restricted by the amount in the kitty called the RE Fund for which we can only collect 1% from each account holder of Tenaga Nasional Bhd. Therefore, the quota that is being created to implement this feed-in tariff has to be rather small.
“Because of that, it will take time for RE to really take effect in terms of the impact that it can create on the total electricity supply.
“If the fund is higher, the quota can be increased and more RE can be generated. That will be good for the country in terms of emission of carbon and the fact that RE is considered a cleaner source of energy.”
Currently, 398 applicants have received the feed-in approvals. Out of these, 71 have signed the standardised renewable energy power purchase agreements (REPPAs).
FIT payments can only be made to those developers who have signed the REPPAs and implemented their projects successfully.
Industry players suggest there should be a liability imposed on those who have not implemented their projects as money is a scarce resource.
“In fact, they should be relieved of their allocation so that others can take their place. Deadlines should be set for implementation; under the REPPAs, there may be deadlines stipulated but who is actually monitoring all this?” asked an industry player.
SEDA Malaysia acts as a one-stop centre to facilitate interested parties in all matters related to RE; it is also working with relevant training institutes to set up a centre of excellence for each RE source.
In terms of research and development, SEDA Malaysia is working on an R&D roadmap for RE.
It has also been tasked to raise awareness on RE; one main awareness programme that has been planned is a sustainable energy conference.
Source: The star
Tuesday, November 15, 2011
Maybank starts US$500m clean energy fund
Maybank and Maybank MEACP Pte Ltd of Singapore have launched a US$500 million (RM1.568 billion) clean energy fund, which offers investors an opportunity to tap the growing interest in clean and renewable energy in Asia.
Maybank Investment Bank chief executive officer, Tengku Datuk Zafrul Tengku Aziz, said the ten-year private equity fund was targeted at global institutional investors with a minimum US$10 million investment.
"The fund will be invested in a diversified portfolio of clean energy projects in the Asia-Pacific focusing on China, India, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Cambodia and Laos," he said.
Speaking to reporters after the signing ceremony and launch of the fund here today, Zafrul said, the fund would prioritise power generation infrastructure projects using renewable sources.
He said to-date the fund has US$87.5 million, of which Maybank contributed US$50 million, Asia Development Bank US$20 million and International Finance Corp US$17.5 million.
Zafrul said the fund was dedicated for clean and energy projects in sectors such as wind, solar, geothermal, small hydro, biomass, bio fuels and energy efficiency.
"Through this fund Maybank is able to tap a sector with immense potential and attractive returns, while being a responsible corporate citizen in doing our part for the environment," he said.
The new fund will be co-managed by Maybank Ventures Sdn Bhd and Maybank MEACP Pte Ltd, a joint venture private equity fund manager set up by Maybank with private funds managers from Asia-Pacific and Middle East. - Bernama
Read more: Maybank starts US$500m clean energy fund http://www.btimes.com.my/Current_News/BTIMES/articles/20111115191231/Article/index_html#ixzz1dm40AHRI
Maybank Investment Bank chief executive officer, Tengku Datuk Zafrul Tengku Aziz, said the ten-year private equity fund was targeted at global institutional investors with a minimum US$10 million investment.
"The fund will be invested in a diversified portfolio of clean energy projects in the Asia-Pacific focusing on China, India, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Cambodia and Laos," he said.
Speaking to reporters after the signing ceremony and launch of the fund here today, Zafrul said, the fund would prioritise power generation infrastructure projects using renewable sources.
He said to-date the fund has US$87.5 million, of which Maybank contributed US$50 million, Asia Development Bank US$20 million and International Finance Corp US$17.5 million.
Zafrul said the fund was dedicated for clean and energy projects in sectors such as wind, solar, geothermal, small hydro, biomass, bio fuels and energy efficiency.
"Through this fund Maybank is able to tap a sector with immense potential and attractive returns, while being a responsible corporate citizen in doing our part for the environment," he said.
The new fund will be co-managed by Maybank Ventures Sdn Bhd and Maybank MEACP Pte Ltd, a joint venture private equity fund manager set up by Maybank with private funds managers from Asia-Pacific and Middle East. - Bernama
Read more: Maybank starts US$500m clean energy fund http://www.btimes.com.my/Current_News/BTIMES/articles/20111115191231/Article/index_html#ixzz1dm40AHRI
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