THE renewable energy sector can deliver more jobs and investments to the country, as well as reducing carbon emissions, said Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin.

She said that the renewable energy sector generated more jobs than the fossil fuel sector.

“The renewable energy sector can generate 187,000 job opportunities and attract investments of RM40 billion,” she told the Dewan Rakyat during Question Time this morning.

This, she said, was possible with Malaysia’s target of achieving 20% renewable energy generation in the country’s total electricity generation by 2025.

She added that the environment would also benefit from this target.

“If we achieve 20%, we can cut carbon emission intensity by 30%, which is equivalent to 17.3 million tonnes,” she said.

Yeo was answering questions from Wong Kah Woh (Ipoh Timur-PH) who asked about the progress of Malaysia’s renewable energy sector and how it was good for the country.

She said as of December last year, Malaysia produced 1,590MW of renewable energy through biogas, biomass, small hydro and solar plants.

She also said another 3,991MW was needed to reach the 20% target.

Yeo said the government was offering private renewable energy entrepreneurs various incentives and facilities to grow the sector.

Entrepreneurs, she said, are also offered green investment tax allowance, green income tax exemption and green tech fin scheme, which assist them in obtaining green equipment, provide services and get interest rate subsidies from the government to implement renewable energy projects.

She said the government had also appointed the Securities Commission to head the green financing task force to find ways to get the private sector to finance renewable energy projects and businesses.

“The report on the green financing action plan is expected to be ready on July 31,” she said. – April 11, 2019.