Malaysia launches $100m fund for green energy

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Workers install solar panels on the roof of the Palexpo Exhibition Center in GenevaMalaysia and Japan’s  Asian Energy Investments Pte Ltd. have launched a $100 million venture capital fund to invest in clean energy projects in Southeast Asia, according to a statement released on September 23.

Malaysia’s interests in the new fund will be managed by the Malaysian Industry-Government Group for High Technology (MIGHT), represented by its wholly-owned subsidiary, MIGHT Technology Nurturing Sdn Bhd.

Malaysian fund management company Putra Eco Ventures Inc. will channel the fund’s investments into small and medium-sized companies and technologies such as wind, solar or tidal energy. It will also help find cheaper biodiesel feedstocks for Malaysian biodiesel plants which have been idled because they rely on expensive crude palm oil.

Separately, General Electric, Malaysia’s largest utility Tenaga Nasional Berhad and government agency GreenTech Malaysia agreed to collaborate on developing a Malaysian smart grid. A smart grid is a modernised electricity device which uses information technology to collect data about the energy use of consumers and suppliers to improve the efficiency of electricity production and reduce energy consumption.

Malaysia aims to reduce its carbon emissions by 40 per cent by 2020 from 2005 levels and increase its renewable energy capacity to 4,000 megawatts by 2030.

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Reading Time: 1 minute

Malaysia and Japan’s  Asian Energy Investments Pte Ltd. have launched a $100 million venture capital fund to invest in clean energy projects in Southeast Asia, according to a statement released on September 23.

Reading Time: 1 minute

Workers install solar panels on the roof of the Palexpo Exhibition Center in GenevaMalaysia and Japan’s  Asian Energy Investments Pte Ltd. have launched a $100 million venture capital fund to invest in clean energy projects in Southeast Asia, according to a statement released on September 23.

Malaysia’s interests in the new fund will be managed by the Malaysian Industry-Government Group for High Technology (MIGHT), represented by its wholly-owned subsidiary, MIGHT Technology Nurturing Sdn Bhd.

Malaysian fund management company Putra Eco Ventures Inc. will channel the fund’s investments into small and medium-sized companies and technologies such as wind, solar or tidal energy. It will also help find cheaper biodiesel feedstocks for Malaysian biodiesel plants which have been idled because they rely on expensive crude palm oil.

Separately, General Electric, Malaysia’s largest utility Tenaga Nasional Berhad and government agency GreenTech Malaysia agreed to collaborate on developing a Malaysian smart grid. A smart grid is a modernised electricity device which uses information technology to collect data about the energy use of consumers and suppliers to improve the efficiency of electricity production and reduce energy consumption.

Malaysia aims to reduce its carbon emissions by 40 per cent by 2020 from 2005 levels and increase its renewable energy capacity to 4,000 megawatts by 2030.

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