Japanese renewable energy developer Shizen Malaysia Sdn Bhd, a subsidiary of Shizen Energy Inc., along with its Malaysian partners Solarvest Holdings Berhad and HSS Engineering Sdn Bhd (HSS), have announced that their utility-scale solar power initiative in Kedah, undertaken via SM01 Sdn Bhd has secured tax incentive approval from the Malaysian Investment Development Authority (MIDA), Malaysia’s key agency for promoting and facilitating investment. This milestone reflects Malaysia’s ongoing commitment to sustainable investment and highlights the value of international collaboration in expanding clean energy infrastructure.
The approval falls under the Green Investment Tax Allowance (GITA), a strategic initiative by the Malaysian government to encourage green technology investments. With this incentive in place, the 29.99 megawatt alternating current (MWac) solar photovoltaic (PV) project in Kedah is expected to enjoy improved financial viability and enhanced returns. SM01 Sdn Bhd is a Corporate Green Power Programme (CGPP) project jointly owned by Shizen Malaysia (49%), Solarvest Asset Management Sdn Bhd (a subsidiary of Solarvest Holdings Berhad, 33%), and HSS Engineering Sdn Bhd (18%). Shizen Malaysia brings extensive experience from Japan, where its parent company is known for leading solar and wind projects across Asia.
This partnership reflects Solarvest’s ongoing commitment to international collaboration in advancing green innovation and environmental sustainability in Malaysia. The SM01 project not only reinforces the goals of the National Energy Transition Roadmap but also showcases how cross-border partnerships, particularly with firms like Shizen, can help accelerate Malaysia’s shift toward a low-carbon economy. MIDA reiterated its commitment to supporting impactful green projects that contribute to environmental goals while generating economic value and advancing technological capabilities. Through this collaboration, Shizen aims to deliver accessible and dependable clean energy to corporate offtakers, while further deepening Japan–Malaysia cooperation in renewable energy.
(Sources: Solarvest; Business Today)
