POWERING A SUSTAINABLE FUTURE: MGTC, BIOTEK DINAMIK AND STATE POWER INVESTMENT CORPORATION JOIN FORCES FOR GREEN ENERGY PROJECTS

 

Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi bin Nik Ahmad (centre) witnessed the document exchange between GCEO of MGTC Ts Shamsul Bahar Mohd Nor (right) and Datuk Eddy Yap, Executive Chairman of Biotek Dinamik Sdn Bhd (left) at the 14th International Greentech Eco Products Exhibition and Conference Malaysia (IGEM).

KUALA LUMPUR, Oct 13 (Bernama) -- On 6 Oct, a significant partnership was revealed, with Malaysian Green Technology and Climate Change Corporation teaming up with Biotek Dinamik Sdn Bhd, a company dedicated to renewable energy and prioritising climate change mitigation to drive global decarbonisation efforts. This collaboration extends to working closely with the State Power Investment Corporation (SPIC) of China. The focus of their partnership centres on advancing green energy initiatives within Malaysia, specifically in creating “Green Electrons” and “Green Molecules” assets. “Green Electrons” denote Green Power, emphasising the electron aspects, while “Green Molecules” emphasise Green Hydrogen and bioenergy, concentrating on the molecular aspect.

Datuk Eddy Yap, Executive Chairman of Biotek Dinamik Sdn Bhd, said, “In the final quarter of this year, the company plans to launch the Malaysia chapter of the Asian Green Energy Belt (AGEB) project, which consists of 5 Gigawatts (5GW) green energy projects, to be developed commencing 2024 through 2030. The AGEB project entails development of green energy generation projects from green or renewable energy sources such as solar, wind, biomass, biogas, geothermal and hydro-electric across Asia”. Meanwhile, Ts. Shamsul Bahar Mohd Nor, GCEO of MGTC, added that “the AGEB objectives are consistent with Malaysia’s national energy policies, especially with the recently launched National Energy Transition Roadmap (NETR), and those of the United Nations Sustainable Development Goals (UNSDGs), in global pursuit of energy transition and net-zero carbon”.

“The Asian Green Energy Belt is poised to become the green energy flagship project, focusing primarily on Green Power and Green Hydrogen assets development. AGEB plans to connect all green energy hubs, which the project proposes to develop across Asia to form a green energy belt to promote and ensure regional energy security and facilitate efficient cross-border trading of green energy. AGEB aims to decarbonise our national and regional economies by advocating sustainable development via sustainable and responsible investment (SRI) in green energy generation and establishing Malaysia as the leading player in the region's transition towards a sustainable and greener future.”, Yap added.

To ensure success in project rollout, Biotek Dinamik Sdn Bhd is teaming up with SPIC - one of the five major power generation groups in China and the largest solar power generation enterprise in the world (SPIC’s current installed solar photovoltaic capacity stands at 60GW), with its businesses spanning across 46 countries. Currently, SPIC energy portfolio consists of 213GW total installed capacity, of which clean energy accounts for 66.19%. Total asset value stands at US$229 billion, and it is ranked 260th in Fortune Global 500 in 2022, making SPIC one of the world’s largest clean energy producers with sound financials and proven technical capabilities. In global green energy generation rankings, measured in terms of installed capacity, SPIC ranks first in the world in solar photovoltaic, second in wind power, and first in new energy & total renewable energy. Also present at the event was Mr Zhai ChuanXu, Director, SPIC Energy Malaysia Bhd.

To ensure smooth and effective implementation of the AGEB project in Malaysia, MGTC is the project's strategic partner and the enabler for the project to align with government policies, industrial guidelines and practices. In contrast, SPIC is the project’s EPCC (Engineering, Procurement, Construction and Commissioning) partner and investor. Phase 1 of the Malaysia chapter of the AGEB project entails the development of 1GW of Solar to Hydrogen project and is estimated to cost approximately US$1.2 billion. In contrast, Phase 2 of the project consists of developing 4GW of green energy assets (both Green Electrons and Green Molecules), estimated to cost US$4.3 billion. Therefore, the total investment over the next eight years for the planned 5GW project is estimated to cost US$5.5 billion.

Meanwhile, both parties expressed gratitude to the Minister of Natural Resources, Environment and Climate Change, YB Nik Nazmi bin Nik Ahmad, for his presence at the event to witness the momentous occasion. “The AGEB project aligns perfectly with the NETR and has the potential to make a transformative impact on our nation's and Asia's energy landscape, and together with the Minister’s continued commitment and support steering national energy policies and directives towards realising the NETR, Malaysia will soon achieve a carbon-neutral society” Yap further said.

SOURCE: BIOTEK DINAMIK SDN BHD

FOR MORE INFORMATION PLEASE CONTACT:
Name: DATUK EDDY YAP
CHIEF EXECUTIVE OFFICER (CEO)
Email: eywh28@gmail.com


--BERNAMA