Maybank: Solar energy is likely the main booster for Malaysia's renewable energy sector

Maybank Investment Bank is positive about Malaysia's plans to grow its renewable energy sector and expects that the solar energy pillar will be the main contributor to Malaysia’s growth plans. In a report on Thursday, 13 January, the brokerage noted that the recently launched Malaysia Renewable Energy Roadmap will likely boost the portion of renewable energy in the national installed capacity mix to 31% in 2025 and 40% in 2035, up from 20% in 2020. As movement restrictions are eased and work momentum for solar installations catches up, renewable energy stocks should also see an earnings recovery in 2022, Maybank said.