Energy, Green Technology and Water Minister Maximus Ongkili said the solar power project was one of three initiatives to increase the mix of new energy sources.
One of the 18 companies identified is Tadau Energy Sdn Bhd, a Sabah company.
The solar power project is capable of producing 50MW of power in northern Kudat, he said.
“This project not only creates history as the first large-scale solar power project, but also with its shariah-compliant financing through a RM250 million green sukuk — the first of its kind in the world.
“This innovative financing scheme has also received the ‘Dark Green’ highest recognition from the Centre of International Climate and Environmental Research, an independent green initiative recognition body in Oslo, Norway.”
Ongkili was speaking during the launch of the Sustainable Energy Convention 2018 here today. Sabah Deputy Chief Minister Joseph Pairin Kitingan, on behalf of Chief Minister Musa Aman, launched the event.
Ongkili further said the government aimed to create 200,000 jobs and generate a return of RM180 billion from green technology-based industries by 2030.
“Green technology-based enterprises’ contribution to the gross domestic product (GDP) is expected to rise to RM60 billion, or 1.5% of the total GDP, by 2020, up from RM7.9 billion in 2013,” said Ongkili.
“This is possible due to the support from the private sector and state governments, such as Sabah, which have made green growth initiatives like this large-scale solar power project possible.
“The backing from the Sabah government has allowed the state to spearhead the implementation of renewable energy projects in the country.”
The other two initiatives to encourage the development of renewable energy sources are the Net Energy Metering (NEM) and Feed-in Tariff (FiT) systems, said Ongkili.
The NEM is a billing system that credits small customers for any excess electricity they generate, via residential rooftop solar arrays, and sell to their local electric company.
FiT is the payment to ordinary energy users for the renewable electricity they generate.
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