CENERGI SEA SDN BHD hopes the government will continue to provide green technology tax incentives and consultancy services from the current end-date of year 2020 to year 2025, under Budget 2019.
Chief executive officer Ernest Navaratnam said the incentives would enable small and medium enterprises (SMEs) to grow the Renewable Energy (RE) market.
“Generally, financial institutions view RE as a higher risk investment. As most green technology companies are SMEs, extra government support will be required to overcome funding barriers.
“Incentivising SME investments in the RE sector would help enable a diversification of Malaysia’s renewable energy market and portfolio beyond solar, thus helping the nation to meet its 20 per cent RE target by 2025,” he said in a statement.