KUALA LUMPUR: Solarvest Holdings Berhad, HSS Engineering Sdn Bhd, and Japanese renewable energy partner Shizen Malaysia Sdn Bhd have received the Green Investment Tax Allowance (GITA) incentive from the Malaysian Investment Development Authority (MIDA) for their utility-scale solar project under the Corporate Green Power Programme (CGPP).
The approval was officially handed over at the Malaysia Pavilion during MITI Week at Expo 2025 Osaka, highlighting the strategic role of international collaboration in advancing Malaysia’s clean energy infrastructure.
The project, undertaken by SM01 Sdn Bhd, a joint venture company owned by Shizen Malaysia (49%), Solarvest Asset Management (33%), and HSS Engineering (18%), involves the development of a 29.99MWac solar photovoltaic (PV) facility in Kedah. The GITA incentive is expected to significantly improve the project’s financial viability and long-term returns.
Davis Chong Chun Shiong, Executive Director and Group CEO of Solarvest, said the GITA approval reflects strong governmental support for the clean energy sector.
“This incentive boosts the financial sustainability of the SM01 project and reinforces the importance of international collaboration. We’re proud to partner with Shizen and HSS to deliver impactful renewable energy solutions,” he said.
Shizen Malaysia, a subsidiary of Japan’s Shizen Energy Inc., brings extensive expertise in solar and wind energy development across Asia. CEO Reza Ikram noted that the incentive enhances investor confidence in Malaysia’s green energy ecosystem.
“Malaysia’s stable economy and supportive policies make it an attractive destination for clean energy investments,” he said. “This partnership exemplifies our commitment to developing reliable, large-scale renewable energy for corporate offtakers.”
Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman and Acting Group CEO of HSS Engineers Berhad, said the project aligns with Malaysia’s sustainable development goals.
“We welcome the government’s support, which strengthens the commercial appeal of the SM01 project. HSS remains committed to delivering resilient engineering and infrastructure solutions for Malaysia’s clean energy future,” he said.
The announcement reinforces Malaysia’s ambition to become a regional hub for sustainable investment. MIDA Deputy CEO Sivasuriyamoorthy Sundara Raja said the agency will continue facilitating initiatives that support Malaysia’s transition to a low-carbon economy.
“This project exemplifies how strategic partnerships can accelerate our clean energy goals and position Malaysia as a premier destination for sustainable trade and investment,” he said.
With the theme “Weaving a Future in Harmony,” Malaysia’s presence at Expo 2025 Osaka aims to showcase the nation’s innovative and inclusive approach to economic growth, particularly in high-potential sectors such as green technology.
