Mosti distributes over RM254 mil in loans for solar technology research, applications

Mosti distributes over RM254 mil in loans for solar technology research, applications

RM207.75 million given out to 23 local companies under Liquidity Financing For Technology Start-Ups programme.

JOHOR BARU – The Science, Technology and Innovation Ministry (Mosti) had provided over RM254 million in loans for research and technology applications in the country’s solar energy industry from 2011 to 2021.

Its minister, Datuk Seri Dr Adham Baba said that from this amount, RM14.8 million was allocated for higher learning institutions, government agencies and stakeholders for research and development (R&D) on local solar energy.

He said Mimos Bhd had developed four R&D projects through a sum of RM15.22 million from the ScienceFund and Strategic Research Fund to increase solar energy output by using local axis tracker and high-efficiency solar panels.

“Three other energy expert companies were also involved in photovoltaic solar system services including the building of a 10MW solar power plant funded by Mosti through the Malaysia Venture Capital Management Berhad’s Exploration Capital Fund totalling RM16.85 million.”

Dr Adham said this in his speech when officiating the Malaysian Photovoltaic Industry Association’s (MPIA) Solar Roadshow 2022, here, today. Also present was MPIA vice-president Datuk Muhammad Guntor Mansor Tobeng.

Dr Adham said RM207.75 million in loans were given out to 23 local companies involved in the solar energy technology industry through Malaysia Debt Ventures under the Liquidity Financing For Technology Start-Ups programme.

Meanwhile, Muhammad Guntor said that MPIA, through a special memorandum to the Finance Ministry in conjunction with the tabling of Budget 2023, had suggested personal tax reduction of RM50,000 in five years for the installation of solar panels.

“The same can be done for the sales and services tax and import duty on businesses related to solar panels and the battery storage power system.

“We hope the government will consider these proposals and we believe this could be a catalyst to using renewable energy which is in line with the government’s mission and target,” he added.

– Bernama, September 22, 2022

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