English

  • Strong EPCC Outlook: Maybank expects the renewable energy (RE) sector to maintain momentum in 2026 as LSS5, LSS5+, MyBeST, and CRESS projects enter the execution phase.
  • Market Value: Current projects are projected to generate MYR 13 billion to MYR 14 billion ($3.21B–$3.45B) in Engineering, Procurement, Construction, and Commissioning (EPCC) opportunities.
  • Future Pipelines: The government plans to launch the LSS6 program (2GW) in 2026, with bidding expected to conclude by Q3, potentially adding another MYR 6 billion to MYR 8 billion ($1.48B–$1.97B) in market value.
  • Policy Impact: The new Solar ATAP program is expected to drive a recovery in residential rooftop solar, while a 2026 Carbon Tax is set to accelerate commercial and industrial (C&I) solar adoption.
  • BESS Integration: Battery Energy Storage Systems (BESS) are becoming a standard requirement, offering players who develop technical expertise a competitive edge and better profit margins.
  • Risk Factors: Potential challenges include solar material cost volatility, project execution delays, and intense competition in the EPCC market.

中文

  • EPCC 前景看好： 马来亚银行 (Maybank) 预计，随着 LSS5、LSS5+、MyBeST 和 CRESS 等项目进入执行阶段，2026 年马来西亚可再生能源行业将保持强劲增长。
  • 市场规模： 预计现有项目将为工程、采购、施工和调试 (EPCC) 领域带来 130 亿至 140 亿令吉（约 32.1 亿至 34.5 亿美元）的商业机会。
  • 未来规划： 政府计划于 2026 年启动 LSS6 项目（2GW），预计第三季度完成招标，有望再创造 60 亿至 80 亿令吉（约 14.8 亿至 19.7 亿美元）的潜在市场。
  • 政策驱动： 新推出的 Solar ATAP 计划预计将带动住宅屋顶太阳能的复苏，而 2026 年即将实施的碳税政策将加速商业与工业 (C&I) 领域的太阳能普及。
  • 储能系统整合： 电池储能系统 (BESS) 正成为标准配置，具备相关技术专长的企业将获得更强的竞争优势和更高的利润空间。
  • 风险因素： 行业面临的主要风险包括太阳能材料成本波动、项目执行延迟以及 EPCC 市场内部的激烈竞争。