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MOSTI Provides Around RM254 Million For Solar Applications And Research In Loans

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Between 2011 and 2021, MOSTI, the Ministry of Science, Technology and Innovation, provided loans totalling RM254 million for research and technology applications related to the country’s solar power industry.

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Minister Datuk Seri Dr Adham Baba stated that RM14.8million was available for higher education institutions, government agencies, and stakeholders to conduct research and development on solar energy.

MIMOS Bhd said it had funded four R&D projects with a total of RM15.22million from ScienceFund and Strategic Research Fund. These were to improve the output of solar energy by using the local tracker and high efficiency solar panels.

“Besides that, (the ministry provided loans to) three energy expert companies for the photovoltaic solar system services, including the building of solar power plants of 10 megawatts by MOSTI’s agency, namely Malaysia Venture Capital Management Bhd (MAVCAP) through the Exploration Capital Fund, totalling RM16.85 million.”

This was Dr Adham’s speech at the Malaysian Photovoltaic Industry Association’s Solar Roadshow 2022. Datuk Muhammad Guntor Mansor Tobeng, Vice-President of MPIA, was also present.

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Dr Adham stated that loans totalling RM207.75 million were granted to 23 companies in the solar energy industry through Malaysia Debt Ventures under the Liquidity Financing For Technology Start-Ups program.

Muhammad Guntor stated that MPIA had, in a memorandum to MOF, suggested personal tax cuts of RM50,000 in 5 years for solar panel installation.

“The same for the sales and services tax (SST) and import duty on businesses related to solar panels and the battery storage power system. We hope the government will consider these proposals and we believe this could be a catalyst to using renewable energy, which is in line with the government’s mission and target,” he added.

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