UOB Kay Hian expects Malaysia’s total solar PV capacity to exceed 6.5GW over 2026 to 2029
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UOB Kay Hian projects Malaysia's solar PV capacity to exceed 6.5GW from 2026 to 2029, driven by the Large-scale Solar (LSS) 6 bidding program and corporate renewable energy supply scheme (CRESS) projects. Estimated EPCC opportunities range from MYR 13 billion to MYR 23 billion over five years, with a CAGR of 28% for the renewable energy sector. However, rising solar module prices due to VAT rebate removals and increased raw material costs pose risks. Key catalysts for the sector include a stronger ringgit and contract wins.
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