KUALA LUMPUR – Semarak Renewable Energy Sdn. Bhd. (SeRenE) has successfully secured a financing package of RM1.88 billion (USD400 million) for its pioneering green hydrogen project in Perak, Malaysia.

The funding, finalised in Singapore and facilitated by Capitale Ventures with Chalfouh LLC as advisory, positions Malaysia as a leading green hydrogen producer, harnessing the innovative floating photovoltaic power generation technology.

According to SeRenE Managing Director, Mohammad Shahil Ishak, the project has garnered significant attention from foreign investors who recognise the immense potential of hydrogen in shaping the future of energy.

Drawing parallels with renowned Japanese automakers like Toyota and Honda, who have heavily invested in hydrogen technology for cars, Shahil expressed excitement about the transformative impact on various sectors, particularly automotive and shipping.

Encouraging local investor and government involvement, Shahil highlighted the project’s not only viability but also profitability, aligning with the growing demand for sustainable solutions.

The Perak-based initiative involves developing green hydrogen production and storage using floating photovoltaic power generation, promising a significant shift towards sustainable energy practices.

Explaining the significance, Mohammad Shahil emphasised that green hydrogen production relies solely on clean energy supplies, setting it apart from conventional hydrogen sources like ‘grey hydrogen’ originated from fossil fuels or ‘blue hydrogen’ from natural gas, making it a cleaner alternative.

If more projects are implemented, Malaysia is poised to lead the charge in the global green energy arena, attracting not just financial support but also earning the admiration of environmentally conscious leaders worldwide.