Tenaga unit to offer solar PV installations for homes by year end

UALA LUMPUR: Tenaga Nasional Bhd 's reneweable unit plans to offer financing self-generation  packages for solar photovoltaic (PV) panels for residential customers by year end as the demand for green energy climbs.

These packages will be offered by TNB Renewables Sdn Bhd's unit GSPARX Sdn Bhd which has  started offering packages to commercial and industrials customers

GSPARX was set up to meet the huge demand for financing self-generation for solar PV investment.

It is among the first investment companies in Malaysia to offer zero upfront capital expenditure (capex) solution for the installation of solar PV panels.

What is significant is that its customers do not have to make any upfront payment as GSPARX will bear the cost for purchasing and installing solar PVs.

GSPARX's customers will benefit from saving and hedging opportunities. Installers will benefit from the unlocking of business potentials of solar PV installation.

These will lead towards realising the government’s target of RE contributing 20 percent of the country’s generation capacity by 2025.

GSPARX targets to offer 1,500MW of self-generation for solar PV investment by 2025.

Its revenue stream comes from the sale of energy generated by the solar PV and utilised by the customers at a price agreed by both parties on a willing buyer and willing seller basis.

Minister of Energy, Science, Technology, Environment and Climate Change Yeo Bee Yin had on Thursday launched GSPARX and its zero upfron solution.

The launch was on the second day of the three-day International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM 2018) at Kuala Lumpur Convention Center (KLCC) here.


__ The STAR Online

First national solar photovoltaic monitoring system by SEDA

KUALA LUMPUR, Oct 17 (Bernama) -- Sustainable Energy Development Authority (SEDA) Malaysia today launched the first national solar photovoltaic monitoring system (PVMS).

This PVMS will generate leads to performance database which monitors selected grid-connected solar PV systems for performance and reliability.

The performance and reliability of the key components of the solar PV systems such as PV modules and inverters will be monitored.

The PVMS also acts as an information platform for solar PV in the country, with the monitoring system available for subscription.

The launch of the PVMS was officiated by Minister of Energy, Science, Technology, Environment and Climate Change, Yeo Bee Yin, at the opening of the International Greentech and Eco Products Exhibition (IGEM) 2018.

“Currently, we already have 120 grid-connected solar PV systems (up to 1MV in capacity) throughout Malaysia that are being monitored on a real-time basis.

“We target to have up to 150 grid-connected PV areas by the year-end, hence providing a huge data base.”

The database will become the reference for designing national energy policies and programmes in the future.

Also present at the launch was SEDA Malaysia acting chief executive, Dr Wei Nee Chen.

The PVMS is funded by the Malaysian Electricity Supply Industries Trust Account (MESITA) under the ministry. The authority has been actively developing the platform ever since the idea was mooted in 2015.

At today’s event, SEDA also launched the country’s first-of-its kind All Risks Solar PV Insurance as an initiative to ensure the investors’ assets are well protected.

The innovative insurance product is by Allianz Malaysia Bhd via Anora Agency Sdn Bhd in collaboration with the Malaysian Photovoltaic Industry Association.

“We are aware that the industry players face various risks as anything can happen to the solar panels.

“Therefore, we welcome more insurance companies to offer their services as at least we will have more choices,” said Yeo.

The Solar PV Insurance addresses the post-installation gaps which are typically lacking in the market.