English

  • Market Outlook: Kenanga Research anticipates a gradual acceleration in utility-scale solar activity starting in the second quarter, primarily driven by lower project costs.
  • CRESS Adoption: The Corporate Renewable Energy Supply Scheme (CRESS) is expected to see increased uptake following the government's revision of the system access charge (SAC) to 20 sen/kWh for firm supply, effective from July 2025.
  • Sector Performance: The broader utilities sector remains robust, supported by resilient electricity demand and national energy transition goals, with companies like Solarvest and TNB reporting strong growth.
  • Strategic Shift: Malaysia continues to prioritize a mix of solar and gas to displace coal-fired generation, aiming to improve affordability and address rising power needs, particularly from the data center sector.

中文

  • 市场展望： Kenanga Research 预计，受项目成本下降的推动，马来西亚公用事业规模的太阳能活动将从第二季度开始逐步回暖。
  • CRESS 采用率： 随着政府将企业可再生能源供应计划（CRESS）的固定供应系统接入费（SAC）调整为每千瓦时 20 仙（2025 年 7 月生效），预计该计划的采用率将有所上升。
  • 行业表现： 在电力需求韧性和国家能源转型目标的支撑下，公用事业行业保持稳健，Solarvest 和国家能源公司（TNB）等企业均录得强劲增长。
  • 战略转型： 马来西亚正持续优先推行太阳能与天然气的能源组合以替代燃煤发电，旨在提升能源可负担性并满足数据中心等领域日益增长的电力需求。