The government of Malaysia is currently seeking to increase the country's renewable power generation target to 20% by 2025. The new target would be supported by the Malaysia Energy Supply Industry 2.0 (MESI 2.0) plan, to be launched before the end of September 2019. To meet the target up to MYR33bn (US$7.8bn) in investment would be required.
The country has recently concluded a 500 MW bidding round (LSS3) for renewable power additions that witnessed 365 MW in solar bids below the gas-fired power generation price of MYR23.22c/kWh (US$5.5c/kWh) (the lowest bid was at MYR17.77c/kWh (US$4.2c/kWh)).
The country's previous renewable target was set by the 11th Malaysian Plan (2016-2020). Under this plan, Malaysia aimed to increase its renewable capacity to 2 080 MW in 2020 (large hydro excluded). Targets accounted for 4 000 MW of renewables in 2030 (17% of total capacity) and 21 400 MW in 2050 (73% of total capacity).