KUALA LUMPUR: Semarak Renewable Energy Sdn Bhd (SeRenE) has secured a financing package of RM1.88 billion for its groundbreaking green hydrogen project located in Perak, Malaysia.
The funding, which was finalised in Singapore and facilitated by Capitale Ventures with advisory support from Chalfouh LLC, positions Malaysia at the forefront of green hydrogen production.
This project makes use of cutting-edge floating solar power producing technology, according to SeRenE's managing director, Muhammad Shahil Ishak.
Shahil said the project garnered significant interest from foreign investors who recognize the potential of hydrogen in shaping the future of energy.
He said hydrogen will have a transformative impact on various sectors, particularly automotive and shipping.
Shahil also underlined the significance of government backing and involvement from local investors, emphasising how the project aligns with the growing demand for sustainable solutions.
The Perak-based initiative focuses on developing green hydrogen production through floating photovoltaic power generation, storage, and logistics, signaling a significant shift towards sustainable energy practices.
Unlike conventional hydrogen sources such as 'grey hydrogen' derived from fossil fuels or 'blue hydrogen' from natural gas, green hydrogen production relies solely on clean energy sources, making it a cleaner and more environmentally friendly alternative.
"If more projects are implemented, Malaysia is poised to lead the charge in the global green energy arena, attracting not just financial support but also earning the admiration of environmentally conscious leaders worldwide," Shahil said.