Boost for Malaysian PV market as utility giant offers zero upfront solar

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
TNB Renewables claims it is amongst the first companies to provide such a solution in Malaysia and it is targeting 1.5GW under this scheme by 2025. Credit: Tom Kenning

A new zero upfront cost solution for rooftop solar PV for commercial and Industrial (C&I) customers has been launched by the renewables arm of Malaysian power giant Tenaga Nasional (TNB). A similar solution for the residential segment will be available by year-end.

GSPARX, a wholly-owned subsidiary of TNB Renewables, that will offer the zero upfront capex solution, was launched at the International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM 2018) in Kuala Lumpur.

The news caps off a busy week for Malaysian clean energy after PV Tech reported yesterday that TNB plans to install solar along a major highway, while Sustainable Energy Development Authority (SEDA) Malaysia has introduced both the first solar insurance scheme and monitoring system, as well as inking support agreements with powerful foreign organisations.

GSPARX has been set up to cater for what TNB has described as “huge demand for financing self-generation for solar PV investment”.

TNB will bear the cost of purchasing and installing PV modules in a manner that will open up opportunities to provide solar to businesses and customers previously held back by the high upfront costs of solar, with customers now able to buy the solar power produced at an agreed price. GSPARX claims it is amongst the first companies to provide such a solution in Malaysia and it is targeting 1.5GW under this scheme by 2025.

Minister of Energy, Science, Technology, Environment and Climate Change (MESTECC), YB Yeo Bee Yin launched GSPARX at the IGEM 2018 event.

Read Next

July 14, 2021
Maxeon Solar Technologies has expanded its AC Energy Solutions portfolio with the launch of a new module for the rooftop solar market.
July 7, 2021
Japan is aiming to have 108GW of solar capacity by 2030, 1.7 times higher than the country’s previous target.
July 2, 2021
Malaysian utility company Tenaga Nasional Berhad (TNB) yesterday launched Vantage, a renewable energy investment and asset management company
June 28, 2021
Risen Energy will spend MYR42.2bn (US$10.2 billion) over 15 years on a new solar manufacturing plant in Malaysia, representing the Chinese company’s first investment in Southeast Asia.
June 15, 2021
The US installed more than 5GWdc of solar capacity in Q1 2021, taking its cumulative capacity past the 100GW barrier, but supply chain constraints could pose a major barrier to further growth.
May 25, 2021
Aurora Solar, a US-based company that has developed software to enable the remote design and sale of PV systems, has closed a US$250 million series C funding round.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
July 29, 2021
Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021