VCI Global plans 100 MW solar projects across Southeast Asia and Europe
Author: PPD Team Date: December 18, 2024
VCI Global aims to develop and acquire up to 100 MW of solar photovoltaic (PV) projects across Southeast Asia and Europe within the next five years, generating an estimated $200 million in revenue over 20 years.
The company plans to source at least 70 percent of this capacity from projects in Malaysia, leveraging government programs like the Corporate Renewable Energy Supply Scheme (CRESS). Additionally, VCI Global intends to acquire 30 MW of solar capacity in Eastern and Southeastern Europe. The total investment for these initiatives is projected to be $50 million, with expected annual revenue of $10 million over the next two decades.
Malaysia’s solar sector has seen significant growth, with notable investments including STMicroelectronics’ 21-year power purchase agreement with BKH Solar in November 2024 and a partnership between Huasun and ITRAMAS to develop 1.5 GW of solar projects.