Floating Solar Project in Terengganu Aims to Reduce Reliance on Oil Revenue
The floating hybrid solar project at Lake Kenyir is projected to lessen Terengganu's dependence on petroleum royalties. With an initial investment of RM1.96 billion, it aims to generate RM10 million annually for the state starting in 2028.
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A floating hybrid solar project in Lake Kenyir is set to generate an annual income of RM10 million for Terengganu beginning in 2028, aiming to diversify state revenue streams. The project, developed by Terengganu Inc and TNB Genco, involves an investment of RM1.96 billion and a generation capacity of 600 MW, equipped with a 1.2 GWh Battery Energy Storage System.
Over the next five to ten years, total energy generation could reach 2.5 GW with a projected investment of RM10 billion. The construction phase is expected to create approximately 5,000 jobs over two years, benefiting local vendors and contractors. The project aims for completion in 2028 and anticipates generating RM6 billion in solar sales over 21 years for its first phase.
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