GE LAUDS MALAYSIA’S RENEWABLE ENERGY INITIATIVES

Posted on June 1, 2011. Filed under: Energy |

Bernama-

alaysia”s recent adoption of a Renewable Energy (RE) Act followed by the creation of a RE Fund and Feed-in Tariffs are

extremely promising, not just for businesses but also for individuals, a GE Energy official said today.

Venkat Kannan, the company”s Asean director of energy services, said: “The most important thing for the successful development of a RE industry is policy stability and transparency, and the RE Act promises to deliver both.

“Investors will benefit from the obligation by utilities to purchase all RE generated in the market, as well as from the set price that utilities will have to pay for RE.”

Even more encouraging, he said, was the provision for adequate degression of feed-in tariff rates so that RE producers would be driven to attain efficiencies and sustainability over time.

The setting up of a RE Fund to pay feed-in tariffs for the entire period of the feed-in tariff contract would also be welcomed by potential investors and financiers, he added.

“Judging from our poll results, Malaysians are aware of the polluting and rapidly depleting aspect of fossil fuels and understand the need to invest in a cleaner future for their families and for themselves.

“This is a promising development coming on the heels of Parliament”s recent passing of the RE bill,” said Venkat in a statement today.

The GE Energy-commissioned poll showed that seven in 10 people interviewed listed “global warming” as one of their top environmental concerns.

The poll which saw responses from more than 350 Malaysians also listed “violence in society” and “air pollution” in second and third place respectively.

About half of the poll respondents identified burning of fossil fuels like coal, diesel and gas for power generation as one of the top causes for air pollution.

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