Energy & Technology

KUALA LUMPUR, Solarvest Holdings Bhd has partnered with Canadian investment firm Brookfield to roll out 1.5 gigawatts (GW) of renewable energy projects in Malaysia over the next three to five years. The projects will include large-scale hybrid solar plants and battery energy storage systems, according to Solarvest executive director and CEO Davis Chong Chun Shiong. He noted that groundwork, such as securing land and exploring offtakers, is already in progress. Under a joint investment framework signed on Monday, Solarvest and Brookfield CTF Asia Holdings Pte Ltd will form special-purpose vehicles for each project, with Solarvest holding 51% and Brookfield 49%. Solarvest will focus on project development and deployment, while Brookfield will secure offtakers and assist in financing. The partnership aims to participate in the Corporate Renewable Energy Supply Scheme (CRESS), which allows businesses to purchase renewable energy directly from producers via the national grid. Funding will be arranged project by project through a mix of borrowings, internal funds, sukuk issuance, or cash calls, said chief financial officer Liew Kong Fatt. Solarvest group vice-president Jack Tan estimated the market cost at around RM3.5 million per megawatt of capacity. Chief investment officer Daniel Ruppert added that the tie-up with Brookfield not only provides access to capital but also to global corporate offtakers. Brookfield operates one of the world’s largest renewable and transition energy portfolios, with more than 270GW in operation and development. Trading in Solarvest shares was suspended pending the announcement. The stock last closed at RM2.72 on Sept 19, valuing the company at RM2.23 billion.

NEW YORK, Japan’s largest power producer, JERA, is close to securing a deal to acquire U.S. natural gas assets worth about US$1.7 billion, sources familiar with the matter said, underscoring Japan’s growing push into America’s energy sector. According to the sources, JERA has emerged as the leading bidder for assets owned by GEP Haynesville II — a joint venture between Blackstone-backed GeoSouthern Energy and pipeline operator Williams Companies. Banks recently invited offers, and JERA’s bid outpaced several U.S. energy companies. While advanced, the discussions remain private and a final agreement has yet to be reached. GEP could still consider other suitors or cancel the sale. If completed, the deal would mark JERA’s first direct move into U.S. shale gas production, giving the company — one of the world’s biggest liquefied natural gas (LNG) importers — greater control over its supply chain. The shift comes as Japan braces for a sharp rise in electricity demand driven by data centers powering artificial intelligence development. Japan, which relies heavily on imported energy, has intensified efforts to diversify supplies since Russia’s invasion of Ukraine disrupted global markets. Washington has also encouraged Asian allies to increase U.S. energy purchases, with Tokyo recently committing US$7 billion annually under a new trade agreement. JERA, a joint venture between Tokyo Electric Power Co and Chubu Electric Power, has already stepped up its U.S. LNG involvement this year, including signing a letter of intent for potential supplies from Alaska’s proposed US$44 billion LNG export project. Japan has also engaged consultancy Wood Mackenzie to study the viability of the 1,300km Alaska pipeline and LNG plant. The Haynesville shale basin, spanning Texas and Louisiana, is among the U.S.’s top natural gas producers, prized for its proximity to Gulf Coast LNG export facilities. GEP Haynesville II currently produces about 317.5 million cubic feet per day (mcfd) and is expected to nearly double output to 614 mcfd by 2028, according to Rystad Energy. Private equity-backed GEP previously sold assets from the same basin to Southwestern Energy in 2021 for US$1.85 billion, capitalising on a surge in U.S. gas prices at the time. Neither JERA, GeoSouthern, nor Williams responded to requests for comment.

Razorpay has become the first Indian payment aggregator to integrate Apple Pay for international sales, enabling merchants to offer a seamless one-tap checkout experience to overseas customers. The service opens access to hundreds of millions of Apple device users—including iPhone, iPad, Mac, and Apple Watch—allowing payments to be authenticated via Face ID or Touch ID. Industry insights indicate that Apple Pay can boost conversion rates by up to 58%. Razorpay reports that early adopters on its platform are already achieving over 90% success rates for cross-border payments. The Apple Pay option is being introduced alongside Razorpay’s existing international payment methods, which include Visa, Mastercard, American Express, Diners, and international bank transfers. Initially, Apple Pay will be available for merchants using Razorpay’s standard checkout and major e-commerce platforms, with support for custom integrations planned for the near future.

KUALA LUMPUR, Knowledge Integration Services (KIS Group) has entered into a bio-liquefied natural gas (bio-LNG) supply agreement with Shell Eastern Trading (Pte) Ltd, marking a significant step towards advancing clean energy solutions in the region. Under the agreement, KIS will begin supplying bio-LNG to Shell in 2027, which will then be regasified and distributed to customers in Singapore. KIS, a global provider of biomethane and renewable energy solutions, said the partnership represents the first phase of a wider strategic framework designed to address growing demand for methane capture and renewable natural gas (RNG). KIS founder and chief executive officer K.R. Raghunath said the deal is expected to play a key role in helping Singapore’s customers meet their decarbonisation targets. “We look forward to expanding this collaboration and strengthening our partnership further,” he said. Shell Energy Asia’s general manager of new business development, Aditya Gupta, added that the alliance underscores Shell’s commitment to accelerating the energy transition. “By leveraging our combined expertise, we are helping Singapore and the wider region advance their climate goals,” he said. Bio-LNG, produced from organic waste, offers a renewable alternative to conventional LNG and significantly reduces greenhouse gas emissions.

KUCHING, Sarawak Premier Tan Sri Abang Johari Tun Openg has urged a restructuring of Sarawak Energy Bhd (SEB) to support the state’s ambitious plans for energy growth and regional expansion. He said SEB’s board should review the state’s Electricity Ordinance — which governs the utility — to explore setting up a dedicated entity focused on boosting energy production for wider markets. “I leave it to the SEB board to study this matter, and I hope to receive a proposal paper by year-end,” Abang Johari said at SEB’s Vendors Excellence Awards 2025 Night on Friday. The premier noted that the restructuring aligns with Sarawak’s goals of achieving 10 gigawatts (GW) of energy generation capacity by 2030 and 15GW by 2035, in line with Prime Minister Datuk Seri Anwar Ibrahim’s vision of positioning Sarawak as a key hub in the Asean power grid. “The prime minister has identified Sarawak as a central player in the Asean energy grid. We are already working towards this, with plans to supply power to southern Philippines once our mission to supply Sabah is completed by year-end,” he said. Abang Johari also disclosed that SEB is finalising talks to export electricity to Brunei, while efforts are underway to expand supply to Peninsular Malaysia and Singapore, ultimately forming a regional energy loop. He added that this expansion will create fresh opportunities for SEB vendors to tap into Asean markets, but stressed that it will also require a larger pool of skilled talent. “This is why professionalism among vendors is critical. Once you meet SEB’s standards, the opportunities will come. It’s equally important for the vendor ecosystem to keep pace with SEB’s expectations,” he said.

HONG KONG, The Hong Kong government is in discussions with several Chinese electric vehicle (EV) manufacturers to establish local assembly operations, as the city seeks to diversify its economy by venturing into advanced industries, according to people familiar with the matter. Officials are exploring potential sites in the New Territories, near the border with mainland China, to host an EV assembly hub — a complex undertaking requiring highly skilled expertise, the people said, requesting anonymity. Talks have included state-owned FAW Group, one of them added. In response to queries, the city’s Innovation, Technology and Industry Bureau said Hong Kong has been “proactively facilitating the development of strategic industries, including advanced manufacturing,” under its 2022 innovation and technology blueprint. FAW did not immediately respond to requests for comment. The move comes as Hong Kong seeks new growth drivers after years of economic strain caused by political crackdowns, pandemic isolation, and a property slump that weakened its status as a premier financial hub. The government has turned to aggressive measures — from tax hikes to civil service cuts — to balance its books and cushion the economy from global uncertainties. Despite its push, Hong Kong faces challenges in becoming a viable EV hub. High land and labour costs could weigh on competitiveness, while China’s EV sector itself grapples with overcapacity and a price war that has forced state intervention. Even so, the city continues to attract players in the EV supply chain. Battery giant Contemporary Amperex Technology Co Ltd (CATL) recently set up its international headquarters in Hong Kong and debuted on its stock exchange in the year’s largest listing. Autonomous driving firms Black Sesame Technologies and Horizon Robotics have also invested heavily in local bases.

KUALA LUMPUR, Malaysia Debt Ventures Bhd (MDV) is targeting RM300 million in approved financing for energy transition projects under the National Energy Transition Facility (NETF) by end-2025. In a statement, the technology financier said the target includes around RM70 million in incentives aimed at improving project bankability through mechanisms such as rebates and credit enhancements. The NETF covers projects in renewable energy, energy efficiency, biogas/biomass, and green mobility, all of which are central to Malaysia’s decarbonisation agenda. Launched under Budget 2025 by the Ministry of Economy, the NETF forms part of the National Energy Transition Roadmap (NETR). MDV has been appointed as an implementing agency to manage up to RM200 million in funding to boost project viability. Chief executive officer Rizal Fauzi said the RM200 million allocation could support between RM500 million and RM700 million worth of financing for NETF-aligned projects.“This multiplier effect strengthens our ability to drive green technology development and accelerate Malaysia’s energy transition,” he said. He noted that MDV has been financing green technology initiatives since 2010 and remains focused on closing funding gaps for high-potential projects, thereby supporting Malaysia’s clean energy transformation. Through NETF, MDV expects to back 20 to 30 companies or projects between 2025 and 2026. To date, it has already approved RM122.65 million in financing, including RM40.09 million in incentives for six technology-based firms. The facility is open to Malaysian-registered technology companies with at least 51 per cent local ownership undertaking projects in Malaysia at the pre-commercialisation stage, backed by proof of concept or prototype, and showing revenue potential. Rizal added that MDV will prioritise high-impact projects that demonstrate technological innovation, commercial viability, and scalability, ensuring alignment with Malaysia’s net-zero ambitions. Since its inception, MDV has extended RM2.13 billion in financing to support the country’s green technology sector, including through the Green Technology Financing Scheme and energy performance contracting. MDV is a subsidiary of the Minister of Finance (Incorporated) and operates under the Ministry of Science, Technology and Innovation (MOSTI).

KUALA LUMPUR, Gas Malaysia Bhd has awarded engineering, procurement, construction and commissioning (EPCC) contracts to two local firms, MTC Orec Sdn Bhd and Enproserve (M) Sdn Bhd, for the development of biomethane purification plants in Trong and Air Kuning, Perak. The projects, scheduled for completion within 13 months, mark a key milestone in strengthening the group’s green gas portfolio and advancing Malaysia’s renewable energy agenda through its wholly owned subsidiary, Gas Malaysia Green Ventures Sdn Bhd, the company said in a statement today. The purification facilities are designed to treat raw biogas by removing impurities and upgrading it into high-quality biomethane that meets natural gas standards, offering a low-carbon substitute for fossil fuels. Once purified, the biomethane will be delivered via a virtual pipeline system or tube skids before being injected into Gas Malaysia’s existing natural gas distribution network, providing cleaner energy to industrial users and local communities.

KUALA LUMPUR, Petronas LNG Ltd, a subsidiary of Petroliam Nasional Bhd (Petronas), has signed a 15-year sale and purchase agreement with Woodside Energy Trading Singapore Pte Ltd to supply one million tonnes per annum (Mtpa) of liquefied natural gas (LNG) to Malaysia beginning in 2028. In a statement today, Petronas said the LNG will be sourced from Woodside’s global portfolio, which may include volumes from the recently approved Louisiana LNG project in the United States. The agreement is expected to boost energy security in Peninsular Malaysia by aligning upstream gas developments with LNG imports. Petronas LNG Marketing & Trading vice-president Shamsairi Ibrahim said the partnership with Woodside will provide Malaysia with a reliable and flexible LNG supply to support the nation’s growing economy, while also enhancing Petronas’ global portfolio in delivering energy responsibly and sustainably. Woodside’s executive vice-president and chief commercial officer, Mark Abbotsford, described the deal as a strategic milestone, marking the company’s first long-term LNG supply arrangement with Malaysia. “This agreement further demonstrates the strength and flexibility of Woodside’s diversified global portfolio and reinforces our position as a trusted energy supplier in Asia, supporting long-term value creation and regional prosperity,” he said. Both companies share a long-standing relationship, having previously collaborated on exploration studies, research and development projects, as well as spot and mid-term LNG transactions.

PETALING JAYA, Enra Group Bhd has secured a significant contract from PETRONAS Carigali Sdn Bhd (PCSB) for the Terengganu Crude Oil Terminal project, strengthening its presence in Malaysia’s oil and gas (O&G) sector. In a filing with Bursa Malaysia, the company said the contract covers a wide scope of services, including engineering, procurement, construction, removal, installation and commissioning works related to the Catenary Anchor Leg Mooring (CALM) system at the terminal. The contract, awarded via a letter of award dated Aug 7, officially commenced on the same date and will run for a duration of 90 weeks, with provisions for earlier completion should the works progress ahead of schedule. Enra emphasised that the project will not affect the company’s issued share capital or alter the shareholding structure of its substantial shareholders. “Nonetheless, the contract is anticipated to contribute positively to the group’s earnings and enhance net assets per share once work is underway,” it said. Industry observers view the award as a strategic win for Enra, further cementing its reputation as a capable solutions provider in the O&G sector. With the Terengganu terminal serving as a critical hub in the nation’s crude oil infrastructure, the project is expected to provide Enra with both operational and financial upside. The group added that the successful execution of the contract could pave the way for more collaborative opportunities with PCSB and other industry players in the future.