Solarvest, HSS, and Shizen Secure GITA Incentive for 29.99MW Solar Project in Kedah

In a major boost for Malaysia’s renewable energy ambitions, the utility-scale solar project under SM01 Sdn Bhd has officially received approval for the Green Investment Tax Allowance (GITA) incentive from the Malaysian Investment Development Authority (MIDA). The announcement was made during a formal handover ceremony at the Malaysia Pavilion at Expo 2025 in Osaka, held in conjunction with Malaysia’s Investment, Trade and Industry (MITI) Week.

SM01 Sdn Bhd is a Corporate Green Power Programme (CGPP) initiative jointly owned by Shizen Malaysia Sdn Bhd (49%), Solarvest Asset Management Sdn Bhd, a subsidiary of Solarvest Holdings Berhad (33%), and HSS Engineering Sdn Bhd (18%). The project comprises a 29.99MWac solar photovoltaic (PV) facility located in Kedah.

The event was attended by YBhg. Datuk Bahria Mohd Tamil, Deputy Secretary General (Management & Investment) of MITI, and Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer of Investment Promotion and Facilitation of MIDA.

The GITA incentive, part of Malaysia’s strategy to promote investments in green technology, is expected to significantly enhance the financial viability of the SM01 project by improving return potential and boosting investor confidence.

Speaking on the occasion, Davis Chong Chun Shiong, Executive Director and Group CEO of Solarvest, stated, “We are honoured to receive the GITA approval from MIDA. This milestone strengthens our position as a clean energy developer and reflects our dedication to leveraging cross-border partnerships to advance impactful, reliable, and commercially viable renewable energy projects.”

Sivasuriyamoorthy Sundara Raja of MIDA remarked that the SM01 project aligns with Malaysia’s National Energy Transition Roadmap. “This partnership underscores Malaysia’s readiness as a regional hub for green investments and demonstrates how international collaboration can fast-track our shift toward a low-carbon economy,” he said.

Reza Ikram, CEO of Shizen Malaysia Sdn Bhd, noted the strong investment climate in Malaysia. “The GITA incentive enhances investor confidence, and our collaboration with Solarvest and HSS underscores our trust in the nation’s renewable energy ecosystem,” he said. “We aim to provide affordable clean energy to corporate offtakers while strengthening Japan–Malaysia cooperation in the sector.”

Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman and Acting Group CEO of HSS Engineers Berhad, highlighted the company’s commitment to sustainable infrastructure. “We are proud to be part of this key national initiative and welcome the government’s support. HSS remains dedicated to delivering innovative and resilient energy solutions alongside our esteemed partners.”

Themed “Weaving a Future in Harmony”, the Malaysia Pavilion at Expo 2025 serves as a showcase of the country’s inclusive and sustainable vision, emphasizing its leadership in green technologies and its appeal as a competitive investment destination.