KUALA LUMPUR: Malaysia is looking into powering the country with renewable energy, in an ambitious project to develop its green economy.
Prime Minister Datuk Seri Najib Razak said the government is looking into installing and increasing capacity of renewable energy in phases - 985MW in 2015, 2,080MW (2020) and 4,000MW (2030).
"These are ambitious. 4,000MW is enough to power a city of a few million people. But we are intent on accelerating growth in this area.
"We are considering proposals to incentivise this, such as the introduction of net-metering for the residential, commercial and industrial sectors," said Najib at the launching of International Greentech & Eco Products Exhibition and Conference Malaysia.
Najib also described renewable energy as one of the country's key component in its green economy.
He said development in renewable energy scored a breakthrough following the introduction of the Feed-in Tariff Mechanism in 2011.
"This allowed the electricity produced from indigenous renewable energy sources to be sold to power utilities at a fixed premium price for a specific duration."
Also present was Energy, Green Technology and Water Datuk Seri Dr Maximus Ongkili.