BERNAMA: Gagasan Solar to raise RM200mln to make solar energy more accessible

KUALA LUMPUR: Malaysia’s first Securities Commission-regulated (SC) solar fund, Gagasan Solar, will be raising a total of RM200 million to ensure that small and medium enterprises (SMEs) would 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 waits 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 March 22.

Thinkat PE, a private equity management corporation, 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 RM25 billion per annum; indicating a large opportunity for further growth in solar energy from both consumption and investment standpoints.