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JOHOR BAHRU (Sept 22): The Ministry of Science, Technology and Innovation (MOSTI) has granted over RM254 million in loans for research and technology applications in the energy industry solar power in the country from 2011 to 2021.
His Minister Datuk Seri, Dr. Adham Baba said RM14.8 million of this amount has been allocated to higher education institutions, government agencies and stakeholders for research and development (R&D) on the local solar energy.
He said MIMOS Bhd has developed four R&D projects with a sum of RM15.22 million from ScienceFund and Strategic Research Fund, to increase solar power generation using local axis tracker and high efficiency solar panels.
“In addition to this, (the ministry has granted loans to) three energy expert companies for solar photovoltaic system services, including the construction of 10 megawatt solar power plants by MOSTI’s agency, namely Malaysia Venture Capital Management Bhd (MAVCAP) through the Exploration Capital Fund, totaling RM16.85 million.
Dr Adham said so in his speech while officiating at the Malaysian Photovoltaic Industry Association (MPIA) Solar Roadshow 2022 here on Thursday, September 22. Also present was MPIA Vice President Datuk Muhammad Guntor Mansor Tobeng.
Dr Adham said RM207.75 million in loans have been provided to 23 local companies involved in the solar power technology industry, through Malaysia Debt Ventures (MDV) under the Liquidity Financing For Technology Start-Ups (MDV-LIFTS) program.
Meanwhile, Muhammad Guntor said that MPIA, through a special memorandum to the Ministry of Finance (MOF) in conjunction with the tabling of the 2023 budget, had suggested a reduction in personal tax of RM50,000 in five years for the installation of solar panels.
“The same goes for sales and service tax (SST) and import duties on businesses related to solar panels and storage battery power system.
“We hope the government will consider these proposals and we believe this could be a catalyst for the use of renewable energy, which is in line with the government’s mission and objective,” he added.