KUALA LUMPUR: The government has given the green light to Risen Energy Co Ltd of China, the fifth-largest solar module manufacturer, to expand its operation in Malaysia, which is expected to provide 3,000 jobs for locals and a projected investment worth RM42.2bil.
Prime Minister Tan Sri Muhyiddin Yassin (pic) said the manufacturers’ licence and incentives had been approved under the National Economic Recovery Plan (Penjana) for the design, development and manufacturing of solar cells and solar modules in Malaysia for the company.
“Insya-Allah (God willing), the five-year investment period from 2021 to 2025 is expected to generate 3,000 employment opportunities for Malaysians while the company would also collaborate with local universities and learning institutions in conducting research and development activities, including internships,” he said in a Facebook posting yesterday.
Earlier yesterday, the Prime Minister held a virtual meeting between International Trade and Industry Minister Datuk Seri Azmin Ali, Malaysian Investment Development Authority (Mida) chief executive Arham Abdul Rahman and Risen Energy Co Ltd president-cum-chairman Xie Jian.
Muhyiddin expressed confidence the presence of Risen Solar in the country will transform Malaysia into an integrated manufacturing hub for solar technology.
“The investment from Risen Energy is a resounding success for the country, at the same time demonstrating our capability in managing the country’s economy while the world grapples with challenges brought by Covid-19,” he added.
The Prime Minister also shared with Xie that the Malaysian government adopted an investment-friendly principle and would always welcome new and high-quality investments into the country with various encouragement and incentives to investors and potential investors, to ensure a smooth implementation of projects planned by the company.
“God willing, the continued trend of high-impact foreign investment influx will surely instil greater confidence among foreign investors community towards Malaysia’s economic recovery plan,” he added.
Currently, Muhyiddin said there were already several global manufacturers for solar products such as Jinko Solar, Longi Solar, JA Solar, Hanwha Q Cell, First Solar and Sun Power operating in Malaysia.
In a separate statement, Azmin said that Risen Energy was expanding its global footprint by opening its latest production base in Kulim Hi-Tech Park, Kedah, in response to the strong support and facilitation provided by the government.
“Selecting Malaysia as the first production facility in South-East Asia, Risen Energy is set to produce 3GW of high-efficiency photovoltaic modules to meet growing global demand,” he said.
Azmin said the facility’s construction at Kulim High Tech Park would be completed by the end of this year, while commercial activities were expected to begin in the first quarter of 2022.
“This new facility will contribute an annual production capacity of 3GW for the first five years,” he said.
“To tap on the enhanced employment opportunities created, Mida has started working with the company for specific talent development programmes to ensure a sustainable local talent pool to meet the demands of this global solar player,” he said.
“Risen Energy’s project in Malaysia will also benefit local businesses, particularly SMEs, and provide opportunities for them to become part of the global value chain. The multiplier effects will ensure positive social results and add value to the economy as a whole,” said Azmin.