VCI Global Limited, a Malaysian company, made a statement to acquire a 1.14-megawatt (MW) solar farm in Novo Selo, North Macedonia, for $1.26 million. The company stated that, “the solar farm is integrated with the national power grid and operates under a power purchase agreement.”
The solar facility uses bifacial solar panels, which capture sunlight from both sides to increase energy generation. It is equipped with Huawei Technology inverters that convert the direct current (DC) power produced by the panels into alternating current (AC) electricity. This electricity is supplied to the grid under a power purchase agreement with Mega Concept LLC Skopje.
According to VCI Global, the solar farm has a projected payback period of about nine years and is expected to generate financial returns throughout its 30-year operational lifespan. The acquisition is subject to due diligence and the signing of a definitive agreement.
Malaysia is also making progress in renewable energy development locally. One of its major projects is the Kedah Solar Farm in Gurun, Kedah, with an installed capacity of 30 MW. This solar project supports the country’s renewable energy target by supplying clean electricity to the national grid.
Another important project in Malaysia is the Pekan Solar Farm in Pahang, with an installed capacity of 50 MW. The facility aims to reduce carbon emissions by providing sustainable energy for domestic and industrial use.
Malaysia has been steadily increasing its renewable energy capacity as part of its energy transition efforts. The country aims to achieve 31% of its energy generation from renewable sources by 2025. Initiatives like acquisition of a solar farm and the development of large-scale solar facilities contribute to these goals.
