Malaysia REC Market Assessment and Opportunities for Regional Integration

04 Feb 2025
Malaysia REC Market Assessment and Opportunities for Regional Integration

Authors: Monika Merdekawati et al
Authoring Organisation: ACE - ASEAN Centre for Energy
Posted At: 01-2025

Malaysia is leading the way in renewable energy certificate (REC) development, driven by strong policy support, abundant renewable energy (RE) resources, and growing demand from multinational corporations.

The country’s National Energy Transition Roadmap aims for renewables to comprise 70% of the total primary energy supply by 2050, with solar energy playing a dominant role. Decentralized electricity governance further enables Sabah and Sarawak to regulate their own REC markets, allowing for tailored RE development strategies. Malaysia’s REC market is shaped by diverse stakeholders, including utilities, independent power producers (IPPs), government agencies, brokers, corporations, and international organizations. Additionally, regional integration across Peninsular Malaysia, Sabah, and Sarawak presents opportunities to harmonize REC markets, creating a larger, more efficient system and facilitating cross-border trade.

Authors: Monika Merdekawati, Veronica Ayu Pangestika, Esther Lew, and Yong Boon Heng

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ACE - ASEAN Centre for Energy

Monika Merdekawati et al

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