Energy Transition Update - Malaysia Accelerates Solar Growth with LSS5 Program Expansion
Malaysia’s commitment to the energy transition is further underscored by the recent developments under its Large Scale Solar 5 (LSS5) program, which is part of the nation’s long-term strategy to achieve 70 percent renewable energy installed capacity and carbon neutrality by 2050. Recently, Founder Group Limited announced an additional contract of approximately US$8.6 million for a 9.5 MW solar facility under this program. The LSS5 initiative highlights Malaysia’s efforts to expand its solar energy adoption, reinforcing its path toward clean energy. As the program progresses, there is anticipation of further projects like LSS6, as noted by MBSB Investment Bank Bhd, potentially paving the way for substantial growth in Malaysia’s solar power capacity alongside advancements in battery energy storage systems.
In other trading, Delta Electronics (Thailand) was a standout up 9.8% and ending the day at THB290.00, not far from its 52-week high. In the meantime, Hanwha Solutions softened, down 19.1% to end the day at ₩36,400.
Equinor finished trading at NOK392.20 up 2.1%, hovering around its 52-week high.
Tesla settled at $385.95 up 0.8%.
Chevron settled at $205.15 down 0.8%, near its 52-week high.
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