Gagasan Solar to rise $47million on Malaysia solar energy

Gagasan Solar, the first Securities Commission Malaysia (SC)-regulated solar fund, will be raising a total of RM 200 million(about $47.43 million) to ensure that small and medium enterprises have greater accessibility to solar energy.

Managing partner Joshep Lee said for the business community, solar energy presents an opportunity to lower their overall electricity expenses, and the surplus can be allocated to more capital-efficient avenues.

“From an environmental perspective, solar energy offers an immediate and direct positive impact by lowering carbon emissions.

“Technological advancements and innovations wait for no one and it is crucial that Malaysia accelerates its efforts to expand the adoption of solar energy, so that it becomes accessible nationwide,” he said in a statement on Today .

Thinkat PE, one of only seventeen SC-registered power and environmental monitoring and control systems in the country, has been appointed to manage the funds raised through Gagasan Solar.

According to the statement, a study conducted by Gagasan Solar showed that the revenue potential of the Malaysian market for commercial and industrial solar energy stands at RM 25 billion ($5.93 billion per annum, indicating a large opportunity for further growth in solar energy from both consumption and investment standpoints.

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