Dear Solarvest stakeholders,
As we step into the promising year of 2024, I am delighted to recap on the remarkable journey we’ve had in 2023 and share our exciting plans.
2023 was a year of achievements for us. Solarvest has achieved significant milestones, solidifying our position as a clean energy expert. We maintained our leadership in the solar EPCC segment with more than 1,000 MWp of solar PV systems developed. We successfully secured 43.5 MWp of solar asset ownership under the Corporate Green Power Programme (“CGPP”) and commissioned all three Large-Scale Solar (“LSS4”) plants owned by Solarvest.
We successfully transitioned into a holistic clean energy provider. This involved the launch of a green energy lab in Sarawak, which houses a hyper-scale green data center and green hydrogen testbed. In the green mobility sector, we co-develop revolutionary solar-powered electric bus charging facilities, integrated with battery energy storage system (“BESS”). Our goal is to install 10,000 EV chargers by 2030, staying on course with our commitment toward net-zero future with clean and efficient energy solutions.
While we celebrate these accomplishments, we remain committed as the key decarbonization partner in Southeast Asia, contributing our expertise in the region’s energy transition journey.
Outlook for 2024: Embracing Opportunities in the Clean Energy Ecosystem
The government’s commitment to achieving 70% renewable energy in the generation capacity mix by 2050, has paved the way for exciting opportunities. We aim to capture opportunities in the EPCC market and optimise government opportunities outlined in the National Energy Transition Roadmap (“NETR”) framework, such as the development of a 2.5 GW hybrid hydro-floating solar PV system. While the 2GW cross-border trading initiatives with Singapore (CBES) paves the way for regional collaboration and unlock a new market opportunity for regional players like us.
Our strategy for 2024 involves a balanced approach. As we navigate the intricate landscape of the renewable energy sector, Solarvest is actively engaged in exploring new avenues, from asset development and ownership to executing EPCC projects and pioneering solutions such as green hydrogen, wind energy, RECs, green data centre, battery storage, EV charging and more.
Solarvest committed to take position as a leader locally and next, regionally. We are optimistic to materialise our 3.1 GW tender book across APAC in 2024, contributing to the growth and sustainability of the renewable energy sector.
I express sincere gratitude to the government, investors, clients, partners, and the entire Solarvest team for their unwavering support. Together, we have made significant progress towards our common objectives, moving into a sustainable future.
Thank you for being a part of Solarvest journey. Let’s continue to ‘Energize the Next’!
Mr. Davis Chong Chun Shiong
Executive Director and Group CEO of Solarvest