KUALA LUMPUR, April 15 — Malaysian solar firm Solarvest Holdings Bhd is looking to accelerate delivery of its large-scale renewable energy projects as rising global demand for clean power is fuelled by higher fossil fuel costs linked to the war in Iran, according to Bloomberg. 

Solarvest chief executive officer Davis Chong reportedly said that the company is in discussions with regulators to shorten project timelines from the current 18 to 24 months to around 12 to 16 months.

“If a project takes 18 to 24 months to deliver, we need to talk to regulators on how we can execute faster, maybe from 12 to 16 months,” he was quoted as saying in an interview with Bloomberg yesterday. 

According to the report, Solarvest, Malaysia’s largest solar energy firm, develops large-scale solar capacity that feeds into the national grid, as well as corporate renewable energy projects through direct offtake agreements.

The company plans to add around 1.3 gigawatts of solar capacity in 2026 and at least another five gigawatts through 2028, according to information on its website.

It is also preparing to roll out large-scale solar projects for grid operator Tenaga Nasional Bhd starting next year, Bloomberg reported. 

Chong said he expects fossil fuel-linked energy costs for industrial users to rise further in the second half of the year, which is likely to further boost demand for solar energy solutions.

He added that solar panel and battery prices are expected to remain stable or trend lower, as supply routes from China remain largely unaffected by the conflict.

Panel prices are currently around US$0.11 per watt, while battery prices are about US$100 per kilowatt-hour, although Chong said these are “fast catching up” with China, where prices range between US$60 and US$80 per kilowatt-hour.

Meanwhile, the head of another Malaysian solar developer said project inquiries had jumped by at least 40 per cent in April, driven by demand from data centre operators and semiconductor supply chain companies.

“For our industry, the higher the energy costs are, the faster the return of investments, so it makes more and more financial sense,” Progressture Power Sdn Bhd chief executive Cliff Siaw was quoted as saying. 

Separately, Deputy Prime Minister Datuk Seri Fadillah Yusof said yesterday that Malaysia’s renewable energy capacity had reached 12 gigawatts in 2025.

Malaysia, one of Asia’s fastest-growing data centre hubs, is a net energy exporter but still imports around half of its domestic fuel needs, including a portion of its gas requirements.