(Reuters) -Malaysia’s reNIKOLA Holdings has been shortlisted to deliver two projects, with a combined solar capacity of 618 Megawatts peak (MWp), under the country’s solar energy programme, the renewable energy producer said in a statement on Thursday.
The projects fall under the Large Scale Solar 5+ programme, a flagship initiative under Malaysia’s strategy to shift to cleaner energy sources.
The firm will oversee projects that will supply clean energy for 21 years and generate an estimated 1.2 billion ringgit ($285.37 million) in direct investment once they are commissioned by the end of 2027, the company said.
Malaysia is ramping up efforts to lift its domestic renewable power supply capabilities with plans to boost gas-fired capacity by 50% and more than double renewable capacity by 2030 to cut coal use and meet growing power demand from data centres.
($1 = 4.2050 ringgit)
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Janane Venkatraman)
