Govt lifts RE export ban, details yet to be ironed out

KUALA LUMPUR (May 10): The government is lifting an 18-month ban on renewable energy (RE) exports — a move to allow the country to tap the rising demand in Singapore and subsequently accelerate local RE generation capacity.

When making the announcement, Minister of Economy Rafizi Ramli stressed that the government is committed to introducing “more RE programmes based on a willing buyer, willing seller basis” to induce private-sector participation.

A willing buyer, willing seller basis means that the RE generated will be sold at a negotiated rate that is agreed between the producer and taker.

Rafizi added that the government commits to double the speed of its initial RE installation target and achieve a 70% generation capacity by 2050, from its previous target of 40%.