28 May 2020
Ministry of Energy and Natural Resources (KeTSA) will offer as much as 1,000MW worth of Energy Commission through a competitive bidding process under the Program LSS@MEnTARI or the Large Scale Solar By Malaysian Program Electricity Industry to attract RE Investment starts May 31, 2020.
This is the largest quota ever offered LSS Program as a Government step towards recovery and boost the economy following the outbreak of the Covid-19 outbreak affecting the country's economy. It is also meant to be a meaningful development in terms of the country`s electricity supply industry to renewable energy.
The ministry`s intention is to ensure the investment in renewable energy could benefit local people as well as giving an immediate effect to the country's economy. The government is firm on the participation of this program is only open to 100% locally owned companies or is registered in Malaysia. Companies that are listed on the Exchange Malaysia interested in joining LSS@MEnTARI must own at least 75% of the local shareholding.
The ministry has also set a maximum capacity of 50MW bid for each developer in Third Round Large Scale Solar Program (LSS-3) to open up opportunities for more solar industry players to participate in this bid.
The 2 packages offered will be stated as follows:
The maximum capacity that each developer can bid is 50MW and each developer can submit no more than 3 bid only. Through the offering of the 2 packages, the Ministry hopes that more local companies, whether be small or big industries are willing to help to build a solar industry country.
Not only that, Datuk Dr. Shamsul Anuar Nasarah also states that optimistic bidders will be able to offer competitive prices throughout the bidding process. Together with the Ministry's intention that this LSS@MEnTARI will revitalize the country's economy as quickly as possible, period bid document submission has been shortened to 3 months compared to 6 months earlier to ensure implementation of these solar projects can start immediately before the end of 2020.
Throughout the implementation of the LSS@MEnTARI Program, the Ministry is expecting an investment of RM4 billion to be generated with 12,000 new job opportunities to local workers. Solar power plants under the LSS@MEnTARI Program are expected commence operations by December 31, 2023.
Source: New Straits Time