MIDA Secures $230M in Green Deals

The Malaysian Investment Development Authority (MIDA) made a major leap in driving green investment by securing seven key partnerships at IGEM 2024. These collaborations, with a combined investment exceeding MYR 1 billion ($230 million), aim to advance Malaysia’s renewable energy and sustainability sectors.

• Green Partnerships: MIDA secured seven green MoUs at IGEM 2024, with investments totaling over MYR 1 billion ($230 million), marking a big step in Malaysia’s Green Investment Strategy (GIS).

• Solarvest’s Leadership: Solarvest Group inked five of these deals with partners including Samsung’s Vista Contracting, Greenrock Energy, Alliance Bank, and others, focusing on solar energy and green financing projects.

• Further Investments: Additional partnerships include Green Quarter, Wezmart International, and Crex Private Limited, focusing on ESG consultancy and carbon reduction, further enhancing Malaysia’s green initiatives.

• Quality Green Projects: MIDA approved four green projects from January to June 2024, totaling MYR 1.8 billion ($420 million), with major investments in renewable energy and green mobility.

With these partnerships and investments, MIDA is setting the stage for a greener, more sustainable Malaysia.