Yeo Bee Yin said the government would engage with industry players and study the relevant policies. (NSTP/ROSELA ISMAIL)

KUALA LUMPUR: The government is optimistic of achieving its target of 20 per cent electricity generation from renewable energy (RE) sources, equivalent to 3,991 megawatt (MW), over the next seven years via various initiatives, programmes and policies.

To realise this target, Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said the government would engage with industry players and study the relevant policies.

Though the country’s clean energy generation is only at two per cent currently, the target could be reached with the implementation of various programmes, including net energy metering, feed-in-tariff (FiT) and large-scale solar programme, she said.

Yeo said this in her keynote address at the 8th Energy Forum, jointly organised by the Energy Commission (EC), Malaysian Gas Association (MGA) and Energy Council of Malaysia here, today.

She said the commitment and support from local and international companies in taking up the challenge to work with the government was vital to further develop the RE and natural gas sectors, adding that the government also intended to provide considerable support via energy efficiency policies.

To this end, Yeo said the first draft of the Energy Efficiency and Conservation Act was expected to be presented to the Parliament next year.

“Energy is something that we Malaysians have taken for granted, given the country’s abundant natural resources and the steady supply of electricity.

“Malaysia would be able to save up to RM46.9 billion in energy spending between 2016 and 2030, should all the energy efficiency initiatives be fully implemented nationwide,” she added. – Bernama