VCI Global aims to develop and acquire up to 100 MW of solar photovoltaic (PV) projects across Southeast Asia and Europe over the next five years. These projects are anticipated to generate approximately $200 million in revenue over 20 years. As part of this initiative, the company plans to source at least 70 per cent of the 100 MW from projects in Malaysia. This will be done by leveraging government programs, such as the Corporate Renewable Energy Supply Scheme (CRESS).
Additionally, VCI Global intends to acquire 30 MW of solar capacity through solar farms in the growing markets of Eastern and Southeastern Europe. The total investment for these solar initiatives is projected to be $50 million over five years. These efforts are expected to yield an annual revenue of approximately $10 million over the next 20 years.
Malaysia has witnessed significant advancements and investments in the solar sector. In November 2024, STMicroelectronics announced a 21-year power purchase agreement with BKH Solar. Through this agreement, the company plans to source approximately 50 GWh of renewable energy annually from a new solar farm in Bukit Kayu Hitam, Kedah. In October 2024, Huasun and ITRAMAS partnered to develop 1.5 GW of solar projects in Malaysia, further reinforcing the country’s position as a growing hub for renewable energy.
