Solarvest, Shizen, and HSS Secure Green Investment Tax Allowance for Kedah Solar Project

• Parties received approval for the Green Investment Tax Allowance (GITA) for their 29.99MWac solar photovoltaic project in Kedah.
• Announced during MITI Week at Expo 2025 Osaka, highlighting international collaboration in Malaysia’s renewable energy sector.

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 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%). 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.

Davis Chong Chun Shiong, Executive Director and Group CEO of Solarvest, stated, “We are honoured to receive the GITA approval from MIDA, which underscores the government’s confidence in our capabilities and commitment to clean energy. This incentive boosts the financial sustainability of the SM01 project and demonstrates the value of international collaboration, particularly with our esteemed Japanese partner, Shizen”.

Sivasuriyamoorthy Sundara Raja, Deputy CEO of Investment Promotion and Facilitation at MIDA, commented, “This partnership exemplifies Malaysia’s commitment to sustainable development and our position as a prime destination for green investments in the region. The SM01 project aligns perfectly with our National Energy Transition Roadmap, demonstrating how international collaboration can accelerate our journey towards a low-carbon future”.

Reza Ikram, CEO of Shizen Malaysia, highlighted the role of Malaysia’s economic environment and government policies in supporting renewable energy investments, noting that the GITA incentive “enhances investor confidence by improving return potential”.

Ir. Kuna Sittampalam, Executive Vice Chairman and Acting Group CEO of HSS Engineers, added, “We welcome the government’s support in the form of the GITA incentive, which enhances the financial viability of the SM01 project. As an engineering and project management partner, HSS is committed to advancing high-impact infrastructure that supports Malaysia’s sustainable development agenda”.

The Malaysia Pavilion at Expo 2025 Osaka, themed “Weaving a Future in Harmony,” served as the venue for the ceremony and aims to promote Malaysia as a hub for trade and investment, particularly in sustainable green technology sectors.