Solarvest, Shizen, and HSS secure green investment tax allowance for Kedah solar project

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Solarvest, Shizen, and HSS secure green investment tax allowance for Kedah solar project - Digital News Asia

Quick Summary:

The announcement was made at the Malaysia Pavilion during the MITI Week at Expo 2025 Osaka, Japan, with senior representatives from MITI and MIDA in attendance.The 29.99MWac solar photovoltaic project, operated under SM01 Sdn Bhd, is jointly owned by Shizen Malaysia (49%), Solarvest Asset Management (33%), and HSS Engineering (18%).

Parties secured Green Investment Tax Allowance approval for 29.99MWac solar PV project in Kedah Solarvest Holdings Berhad, Shizen Malaysia Sdn Bhd, and HSS Engineering Sdn Bhd have received approval for the Green Investment Tax Allowance (GITA) from the Malaysian Investment Development Authority (MIDA) for their utility-scale solar project in Kedah.

The GITA incentive is part of a Malaysian government initiative to encourage investments in green technology, aiming to enhance the financial sustainability and viability of renewable energy projects in the country.