Opportunities await local firms in renewable energy

WITH reference to the article in StarBiz titled “RHB pays RM2b for OSK IB” on Tuesday, it has been pointed out that the transactions RHB and OSK’s investment banks had closed together were a rights issue for Otto Marine Ltd and a share placement for Berjaya Sports Toto, and not as reported. KUALA LUMPUR: Opportunities are abound in the renewable energy sector but local players need to understand the market and act fast to enjoy the rewards on foreign shores, said Khazanah Nasional Bhd investments executive director Shahazwan Harris said.

He said there was potential for Malaysian companies to be regional leaders in this area.

“They need to understand the market very well and need to be able to transfer knowledge, look at the technology and understand the risk,” he said at Invest Malaysia 2012 conference.

Shahazwan said the renewable energy market was growing and prices were coming down, thus providing opportunities for investors and players to make financial gains.

Photovoltaic modules manufacturer First Solar Malaysia Sdn Bhd senior director Ahmad Hadri Haris said Malaysia already had the knowhow to capitalise on renewable energy at a global level.

“We can bring in the infrastructure solutions. We already have a track record in the Middle East and Asean,” he said.