KUALA LUMPUR, Dec 18 — The government expects several projects under the renewable energy (RE) lever to enter the implementation phase in 2025, according to the Economy Ministry.

Among them is the Solar Park project, where discussions are ongoing for creating an offtake model that is viable, project site selection, developing collaboration and the ascertainment of bank financing needs, it said.

In addition, the hybrid hydro-floating solar photovoltaic project and green hydrogen hub at the Sultan Mahmud Kenyir power station will also be developed next year.

"In terms of enabler aspect, the National Energy Transition Roadmap (NETR) has identified blended financing for funding the energy transition projects.

"The National Energy Transition Facility (NETF), set up with a seed fund of RM2 billion, will be fully operational in 2025,” the ministry said in the Dewan Negara website.

It was responding to a question from Senator Tan Sri Low Kian Chuan on the flagship catalyst projects and initiatives under NETR that have been realised to date.

The ministry said that under the RE lever, several projects have achieved encouraging progress in 2024, including solar panel installations at government buildings that continue to be intensified, with the Parliament building here being among the first in the world to use solar energy for power generation.

It said the government also encourages rooftop solar panel installation for new housing projects in the footsteps of NETR project leader Sime Darby Property Bhd.

The Energy Efficiency and Conservation Act 2024 (Act 861) was also gazetted on Nov 26, 2024, it noted. — Bernama