APX and SEDA Malaysia Sign MOU

APX and SEDA Malaysia Sign MOU

On October 17th, Minister Yeo Bee Yin—of Malaysia’s Ministry of Energy, Science, Technology, Environment and Climate Change—witnessed the public signing of a Memorandum of Understanding (MOU) between APX and the Sustainable Energy Development Authority of Malaysia (SEDA).

The MOU launches a new collaboration between SEDA and APX to ensure businesses in Malaysia can purchase and track renewable energy on a trusted international platform—the TIGRs Registry.

SEDA is now an officially authorized Qualified Reporting Entity (QRE), for the TIGRs Registry, and is the first domestic entity to be appointed in Malaysia.

SEDA and APX Host Malaysia’s Largest RECs Event to Date

Following the MOU, SEDA and APX co-hosted a RECs workshop at the International Greentech and Eco Products Exhibition (iGEM) 2018. The event introduced opportunities for project developers and leading corporate and industrial stakeholders to transact renewable power and buy RECs in Malaysia.

Speakers shared best practices on how renewable energy developers are supporting the world’s leading brands to achieve sustainability targets—highlighting impacts that the REC market is having on key stakeholders in Malaysia. Presentation topics included: (i) what RECs are and where the Malaysian RECs market is going; (ii) Tech-driven demand for RECs in Malaysia, (iii) impacts on developers, power purchasers, and the domestic energy market; and (iv) actionable steps for participating in the REC market.

The speakers at the event were:

  • Datuk Ir. Ahmad Fauzi Hasan, Acting Chairman, SEDA
  • Lars Kvale, Managing Director, APX Inc.
  • Tan Tze Meng, Ecosystem Enablement, Malaysia Digital Economy Corporation
  • Achmat Nadhrain Ibrahim, Senior General Manager, Cypark Resources Berhad
  • Daniel Ruoss, Vice President, Clenergy Group
  • Roble P. Velasco-Rosenheim, Asia Regional Lead, APX Inc.
  • Dr. Wei Nee Che, Acting CEO of SEDA Malaysia.

The workshop received official support from BURSA Malaysia, and brought together more than 260 C-level representatives from Malaysia’s top listed companies, as well as renewable energy power producers, traders, and representatives from the public sector.

 

Updates on Malaysia

 Malaysia is a key demand market for RECs in South East Asia, and internationally. The collaboration between APX and SEDA sets the nation apart as a regional leader in clean and renewable energy—it will increase access to RECs through APX’s industry-standard TIGRs platform, ensure buyers in Malaysia can access environmental attributes that are tracked and sold in a credible and transparent way.

The growing Malaysian RECs market is supporting the country to achieve its targeted 25% renewables share of the energy mix by 2025, and is enabling international and domestic brands to access clean energy, in line with global targets and reporting criteria set by CDP, RE100, and all other major sustainability reporting platforms.

To learn more about how to track renewable energy purchases and issue RECs in Malaysia contact us at tigrs@apx.com

About SEDA

The Sustainable Energy Development Authority Malaysia (the Authority) is a statutory body formed under the Sustainable Energy Development Authority Act 2011 [Act 726] and is primarily responsible to augment the renewable energy agenda in the country. The Authority was established on 1st September 2011 with the main role of administering and managing the implementation of the Feed-in Tariff (FiT) mechanism mandated under the Renewable Energy (RE) Act 2011 [Act 725]. With its vision to be the leading agency in the country that promotes the deployment of sustainable energy measures as part of the solutions towards achieving energy security and autonomy, the Authority’s core responsibilities are not only limited to RE; they also include promoting the use of energy efficient technologies and approaches to reduce energy consumption.

About APX

APX provides environmental registry and power operations solutions to thousands of clients worldwide. Leveraging 17 years of experience in environmental registries, the TIGRs Registry is APX’s solution to global demand for renewable energy. More than 36,000 projects worldwide use APX registries to access environmental markets. Our team includes market experts, cutting-edge developers and experienced operators. To learn more about APX, visit our website: www.apx.com

2018-11-15T17:02:22+00:00 November 8th, 2018|

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