$100 Million Clean Energy Initiative in Malaysia

A new venture capital fund has been initiated by Malaysia and Japan based Asian Energy Investments Pte. Ltd which will invest in clean energy projects in South East Asia. The launch of this fund was announced by the Malaysian Prime Minister Najib Razak on Monday in San Francisco in the United States where he was in a meeting with sustainable development experts.

These funds will be channelized into small and medium-sized companies and technologies working in solar, wind and tidal energy sectors and the fund management will be directed by Putra Eco Ventures Inc.

While announcing the move, Prime Minister Razak said that they wish to change Malaysia into an economy full of technical experts interested in innovating new things for the country.  It should be friendly to the environment.  The aim is to participate the rank of developed nations. The Malaysian government has resolved to raise the capacity of renewable energy to 4,000 megawatts within 2030.

Malaysia is working towards a goal to reduce its carbon emission by 40 percent by 2020 from its 2005 levels and to achieve this goal, General Electric, Malaysia’s largest utility Tenaga Nasional Berhad and government agency GreenTech Malaysia agreed for jointly developing a Malaysian smart grid on Monday. The smart grid will help in increasing the efficiency of electricity production and in reducing the energy consumption.

Source: http://www.reuters.com/article/2013/09/23/energy-malaysia-fund-idUSL5N0HJ14220130923

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