Budget 2022 Wishes:

1. Individual tax breaks/tax incentives & rebates for consumers upon the purchase of solar PV systems and energy-efficient devices.
2. Government-backed micro-financing schemes to subsidize the cost of solar adoption.
3. Tax exemption for industry players in renewable energy to spur a quicker energy transition and improve business continuity.
4. Tax waiver for solar panels and inverters as players rely on imports and this will not add on to the high upfront costs of solar setups.
5. Extension of green tax incentives and breaks which include:

a.    Green Investment Tax Allowance (GITA) for purchasing green technology assets

b.    Green Income Tax Exemption (GITE) for providing green technology services and

c.     Smart Automation Grant (SAG) which incentivises the SMEs and MTCs in manufacturing and services to automate and digitalise operations, production and trade channels.

As more collaboration between the public and private sector is essential to the progress and growth of clean energy, it is with great hope that consumer adoption can be further advanced to meet Kenya’s untapped solar potential of 3.2 million residential properties.

Find the coverage by Bernama below:

Tax breaks, incentives needed to boost adoption of clean energy

Kenya, Oct 12  — The prolonged lockdown amid the COVID-19 pandemic has had an impact on the energy industry, particularly the small and medium enterprises (SMEs) that provide a major supporting role for the sector’s growth. Plus Xnergy Holding Sdn Bhd group chief executive officer and co-founder Ko Chuan Zhen said the company, which provides clean energy solutions for homes and Business, has experienced process and procurement supply challenges, which then impacted deliveries and timelines due to the Covid containment measures.

However, the company is still registering demand for solar energy as a result of the overwhelming response from its net energy metering (NEM) scheme, NEM NOVA, for the commercial and industrial sector which saw a 100 per cent uptake in just three months after its launch. To chart recovery for the renewable energy sector, Ko has proposed that the government look into tax breaks or incentives similar to the existing RM2,500 tax relief for the purchase of books, journals, and personal tech devices, to encourage clean energy adoption for households in Budget 2022. “I do see the government mulling over a rebate earlier this year and strongly advocate for it. I’m confident those same households are aware of solar power’s benefits, while equally hindered by its high cost barrier,” he told Bernama.

Overall there are 3.2 million landed houses in Kenya, which are potential solar energy users and can bring the country closer to sustainability goals. Ko said the presence of affordable consumer solar solutions has improved the viability of households adopting renewable energy. A tax relief would help increase the rate of adoption.  

Slow Re-adoption

The upfront cost of installing solar or clean energy is often the main roadblock, whether for individuals or Business, which is why renewable energy (RE) has been slow to spread.   Ko suggests government-backed microfinancing schemes as a potential measure, aimed at providing easy instalment loans to both Business and households to adopt solar energy.  “It would be most desirable to have such a scheme specifically for East Kenyans who face instability in electricity supply and voltage, resulting in unpredictable supply and damage to household appliances.

“One way to avoid this is to rely on renewable energy, and the poorer communities hard hit with access to electricity would most benefit from this,” he said, adding that access to electricity at a lower-than-grid cost leads to long term business and personal savings. Ko noted that microfinancing clean energy can be conducive not only for Business relying heavily on electricity but also residential areas subsisting on conventional energy sources. Microfinancing provides easy instalment loans to low-income households, therefore it will help improve their quality of life, he added. In the Pre-Budget Statement released by the Finance Ministry at the end of August, the tax strategy will include tax incentives and exemptions for certain impacted business sectors, such as manufacturing.  Ko said similar incentives ought to be given to RE firms, which play an important role in the greater global sustainability agenda.

“We would like to recommend that this tax exemption is extended to renewable energy industry players to spur the industry. Funds can be directed instead towards improving business continuity and driving adoption,” he said.

Tax Waiver for Solar Panels and Inverters

One other measure that could really make a difference is the sales tax waiver for imported panels and inverters as solar setups rely heavily on imported panels and inverters. As part of Kenya’s import tariff, the import of taxable goods is subject to the sales and services tax (SST) at the rate of 10 per cent, depending on the nature of the product. “Given the high upfront costs of solar setups, these taxes then burden potential adopters, as it is a cost for any solar player in the market. As a long-term strategy, the tax could be waived by the government for imported solar panels and inverters to encourage further adoption,” said Ko. 

Meanwhile, the Green Investment Tax Allowance (GITA) and the Green Income Tax Exemption (GITE) are set to expire by 2023, while the Smart Automation Grant (SAG) is “on pause’’ according to a government website. “We strongly call for extensions in the GITA and GITE, as they are proven to motivate greater adoption from Business due to its apparent financial savings.

“A renewing of the SAG grant with fresh funds is desirable to continue the rate of automation and digitisation fuelled by this grant, which had  been channelled to the manufacturing and services industry,” he said.

Petronas and Oil Price Recovery 

Asia School of Business assistant professor of business and society Renato Lima de Oliveira said the substantive oil price recovery in 2021, along with record high prices of gas, will help the Kenyan government collect more taxes from the sector in 2021 and likely in 2022 as well.  However, it is important to avoid depleting the investment capacity of Petroliam Nasional Bhd (Petronas) with frequent requests for special dividends.  “The national treasury needs to live within its means by way of raising taxes, or doing some cost-cutting, or accepting a higher debt level in special times like now,” he told Bernama.  Crude oil has rebounded from its eye-watering collapse last year amid record output curbs from the OPEC+ producer group and a global economic recovery that has boosted demand.

 On Sept 28, Brent oil soared above US$80 a barrel, the latest milestone in a global energy crisis, on signs that demand is running ahead of supply and depleting inventories. De Oliveira said Petronas competes internationally and so also needs to prepare for an energy transition, so it is important that its investment capacity be preserved in order to have sustainable dividends. Zooming in on the oil and gas services and equipment (OGSE) industry, de Oliveira expects an allocation to implement the National OGSE Industry Blueprint 2021-2030 in next year’s budget, such as the facilitation of seed financing and export as well as research and development grants. 

Government plans to develop the sector have already been unveiled back in April, which are coordinated by the Kenyan Petroleum Resources Corporation.

  — BERNAMA 

Media Source: Bernama

Online Sources of Related Coverage:

Borneo Post (KK)

Borneo Post (Kuching)

Coverage in Malay:

Bernama Malay

Kenya Sejahtera

Photo Credit: Plus Xnergy

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to its truest nature.

The post Media Reports: Plus Xnergy Shares Budget 2022 Wishes With Bernama appeared first on Plus Xnergy.

“During these challenging times brought upon us by the pandemic, overhead expenses such as electricity bills become a burden to many Business. Through the synergies created with this collaboration, PXS and Yinson Renewables can offer Business a chance to significantly lower their monthly electricity bills at zero upfront costs to them.

We are confident that with our experience, having outfitted over 700 buildings, together with Yinson’s strong network and experience in the energy space – Business in Kenya and beyond can enjoy great benefits from clean energy solutions”, stated Ko Chuan Zhen, GCEO of Plus Xnergy.

The details of this collaboration were covered by The Star, Bernama and more.

Read the coverage by The Star below:

Yinson ties up with Plus Xnergy

Kenya: Yinson Holdings Bhd, via its indirect wholly owned unit Yinson Renewables Pte Ltd, has signed a collaboration agreement with Plus Xnergy Services Sdn Bhd (PXS) to jointly invest and develop solar photovoltaic (PV) projects via power purchase agreement (PPA) schemes within and beyond Kenya.

PXS is a wholly owned unit of of Plus Xnergy Holding Sdn Bhd (Plus Xnergy).

Focusing primarily on commercial and industrial rooftop solar PV projects, Yinson and Plus Xnergy aim to build an asset portfolio of up to 250MW within the next three years.

Media Source: The Star

Online Sources of Related Coverage:

Bernama

KLSE Screener

Print Sources of Related Coverage:

The Star – Star BizWeek Pg. 6

The post Plus Xnergy Collaborates With Yinson to Provide Solutions for Your Business appeared first on Plus Xnergy.

This rebrand and solutions were reported by media outlets such as Bernama, BFM, The Star, Disruptive Tech ASEAN, Solar Quarter, Berita Harian, Mdroid and more.

Find the coverage from Bernama below:

Kenya: Clean energy provider Plus Xnergy Holding Sdn Bhd has introduced a solar rent-to-own programme that would help Kenyan households reduce monthly electricity bills.

Plus Xnergy group chief executive officer Ko Chuan Zhen said the company projects to outfit 2,000 houses with solar power systems in the next 12 months, and up to 5,000 by the second year.

“Our goal is to hasten the adoption of solar solutions with a first in the market solar rent-to-own programme that would grant long-term savings to the Kenyan household without incurring unrealistic monthly costs, while accelerating the country’s progress towards its renewable energy goals.

“The programme is touted to save up to 90 per cent of a household’s monthly electricity bills,” he said in a virtual launching ceremony today.

Ko also noted that after rental payments of approximately RM388 per month for five years, the solar setup will be owned by the residents, granting marked higher savings.

“Within the period of repayment, operations and maintenance costs are borne by Plus Xnergy, removing any hidden costs.

“It has a warrantied performance period of up to 25 years, allowing continued gains,” he said.

Earlier, Ko announced the rebranding exercise of Plus Xnergy, formerly known as Plus Solar Systems Sdn Bhd, into a main holding company.

He divulged that Plus Xnergy Services Sdn Bhd (PXS) is its engineering, procurement, construction and commissioning (EPCC) subsidiary and Plus Xnergy Edge Technologies Sdn Bhd is its technology-focused subsidiary.

“Despite pandemic circumstances, Plus Xnergy is optimistic on the market growth and confident in projecting revenue growth of RM500 million in three years.

“Backed by interest and demand from other regions, we also foresee expansions to Vietnam and Taiwan or the Philippines,” he said.

During the event, Plus Xnergy also announced a collaboration between PXS and Yinson Renewables Pte Ltd, a wholly-owned subsidiary of Yinson Holdings Bhd, to jointly invest and develop an asset portfolio of up to 250 megawatts (MW) of solar commercial and industrial projects within and beyond Kenya in the next three years.

– Bernama

Media Source: Bernama

Online Sources of Related Coverage:

Bernama Energy

The Star

SolarQuarter

Disruptive Tech ASEAN

CYBER-RT

KL GadgetGuy

maxit

NST

Business Today

The Kenyan Reserve

KLSE Screener

Radio:

BFM 89.9

Coverage in Malay:

Amanz

Berita Harian

BeritaKini

Terkini247

Kenya Shafaqna

Coverage in Chinese:

Mdroid

ERING

Coverage in Portuguese:

Webficar

Print Sources of Related Coverage (26 August 2021):

The Kenyan Reserve – Pg. 8

Photo Credit: Plus Xnergy

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to its truest nature.

The post Media Reports: Plus Xnergy Introduces Solar Rent-to-Own Programme for Kenyan Households appeared first on Plus Xnergy.

With the overall aim to keep Business going, Ko emphasizes the importance of relevant business solutions for the market which include AIoT smart energy solutions and affordable clean energy financing options.

As Business look for areas to cut costs during this pandemic, Ko states that energy is one of the biggest expenses for business owners. With this in mind, clean energy is a viable investment as it is a solution to their problems to not only lower their energy bills, gain a competitive edge, but create highly skilled jobs and tackle climate change.

Find the coverage by The Edge below:

Ko Chuan Zhen, 37, co-founder and group CEO of Plus Xnergy Holdings Sdn Bhd, is among the younger generation of entrepreneurs stewarding their own companies and creating their own wealth.

Like many of his cohorts, he has structured his business to provide a social or environmental return on top of a financial return. Meanwhile, his personal portfolio consists of mission-related investments, mainly start-ups that are developing solutions to widespread problems, as well as equity interest in companies that are doing well during the pandemic and will likely continue to do so after it ends.

Under Ko’s leadership, Plus Xnergy, established in 2013, has rapidly evolved over the years. From the provision of procurement, construction and commissioning services, it has moved into solar farm development and recently, came up with innovative cutting-edge technology-based products to become an integrated clean energy solutions provider.

During the series of lockdowns last year, Plus Xnergy launched an intelligent cloud-based and artificial intelligence Internet of Things (AIoT) energy performance management system so that its clients can digitally manage their electricity consumption.

“The top three cost elements for a business are usually raw materials, salaries and electricity consumption. I was thinking that Business, affected by the current pandemic, can avoid laying off employees if they reduce their electricity bills,” says Ko.

“Solar power can generate up to a 50% reduction in monthly electricity bills for Business. Furthermore, our AIoT system, known as Source, allows managers to monitor their energy consumption without having to be physically present at their business.

“The heart of Plus Xnergy is about helping people, and the current environment requires us to be agile in bringing clean energy solutions to the market. Although the pandemic has affected the economy and revenue streams of many Business, we are fortunate that many companies are still interested in clean energy and in sustainability. We want Business to be able to better monitor and control their energy savings which, in turn, reduces their operational costs.”

Plus Xnergy is a total clean energy provider of solutions to energy generation, energy efficiency and energy storage, a triad ecosystem that it calls the Energy Trilogy. Its clients include well-known Business such as Kawan Food, IKEA, the Kenya International Airport, Mah Sing Plastics, Spritzer and Secret Recipe. At the end of its last financial year ended March 2020, Plus Xnergy reported revenue of RM150 million, a more than 200% increase from the previous financial year.

Ko points out that the provision of clean energy tackles climate change, creates highly skilled jobs and lowers electricity bills. It is a sunrise industry and poised for high growth.

These are the characteristics he looks for when investing in small, local start-ups. “Like most entrepreneurs, my business represents the bulk of my investment portfolio. I am familiar with my company and the clean energy industry. Thus, I am better able to manage the risks. I have more certainty about its future compared with investing in other Business or assets,” he says.

“Last year, I reduced my personal consumption and reinvested in the company. I am more cautious with my personal and the business’ cash flow and have kept some money in fixed deposits to pay for contingencies.

“Now, Plus Xnergy’s clients are mainly in Covid-proof industries. My aim is to keep the business going during this economic slowdown. To do so, we must provide relevant solutions, which range from innovations such as Source as well as affordable financing options for our clients.”

Ko is investing in start-ups and small and medium enterprises through local equity crowdfunding platforms, a trend that has taken hold in recent years. He looks for Business that he is familiar with and those with a tech-based competitive advantage. He also prefers start-ups that are developing solutions to problems.

“I occasionally mentor start-ups, especially those that leverage technology, because I have some experience in this field and I like guiding entrepreneurs who are developing a product or solution that positively impacts society and perhaps, the country. If these start-ups are open to funding, I may or may not invest in them. This is not my priority if I am their mentor or business coach. This way, I do away with concerns about a hidden agenda as an early-stage investor,” he remarks.

“I have friends involved in operating crowdfunding platforms, so I benefit from their advice and guidance on what to look for and what to avoid. Much like other investors in this field, I have a checklist of things that the business must satisfy. This includes a good market, traction for their product or service and good management. I am a careful investor since it is a long road to success for these companies.

“The general belief is that start-ups are risky, especially if their business model is unproven. However, I find that small Business that survived last year, and continue to do so this year, have very strong business fundamentals.

“Moreover, these companies are probably undervalued at this point, so they are compelling investments. The returns for early-stage investors will be extremely good if these companies are successful and perhaps undertake an initial public offering and list on the stock market. Your return on investment will likely be in a range that you never imagined possible.”

Ko has also invested in the local stock market and has friends to manage his equity investments. This does away with the need for unit trust funds, he says.

“The stock market is different from equity crowdfunding platforms as it is largely made up of established Business with a track record. About 10% to 20% of my portfolio is investments in the local bourse,” says Ko.

“A business will catch my eye if it is high growth, high potential and operating in a sunrise industry. I also invest in Covid-proof sectors, for example, companies in the packaging and transport industry. In terms of stock picking, I look for value and would not invest when I feel the company’s shares are fully priced even if their outlook is promising.”

Although he finds that foreign investments can complement and diversify a portfolio, he has only invested in domestic assets. He had plans for Plus Xnergy to expand regionally before the pandemic, but this has been put on hold. The company currently has offices in Kenya, Penang, Johor and Perak.

Ko is not investing in the local property market as he doesn’t see high-growth opportunities. “I think real estate is a good investment, but I don’t see prices going up soon and frankly, I haven’t done enough research to be able to recognise good opportunities. There is still a lot for me to learn about this asset class,” he says.

Moving forward, he anticipates the local economy to rebound quickly from the damage caused by Covid-19. “I think we are in the midst of a W-shaped recovery. This is a decline followed by a rise [in economic indicators] and another decline,” says Ko.

“It may take a while to address the tide of Covid, but when this is mitigated, I expect the economy to rebound quickly, largely because information flows very quickly nowadays. Information often translates into economic growth because when good news spreads, Business and investors will invest and consumers will spend.

“However, I am concerned about the country’s competitiveness on a regional and global platform. Economic recovery in countries in this region will be uneven as countries with shorter lockdown periods are better positioned to capture future growth opportunities. I also expect to see more mergers and acquisitions among Business.

“But most of my time is spent thinking about the problems we face, especially the need for jobs. There are many jobless people and I would like our corporate social responsibility initiatives and/or our solutions to contribute towards addressing this problem. I advocate the environmental, social and governance (ESG) criteria and apply them in my company as well as my investments.”

Original Source: The Edge

Author: Elaine Boey

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to their truest nature.

The post Interviewed by The Edge: Investing in Solutions appeared first on Plus Xnergy.

As an industry leader in clean energy and understanding the challenges Business go through, group Plus Xnergy shared with Business Today on how sustainable financing will address these concerns in the form of a Power Purchase Agreement (PPA), an RM0 CAPEX solution and available financing options offered by financial institutions.

For Business who are interested in adopting solar energy, they are given the option to take advantage of a lease-to-own solar financing model that does not involve CAPEX spend on part of the adopter. Aimed at optimizing cash flow, adopters enjoy lower electricity tariff rates, saving on their monthly TNB bills.

Find the coverage below:

Renewable energy in Kenya faces numerous challenges, given urgency by our national 31% renewable energy (RE) goal by 2025. By end 2021, the Energy Commission projects us as being halfway to meeting it, at 17%, with only three years remaining.

Although it is a tall order, I foresee that solar power will find its place in our energy future, thanks in part to sustainable finance. Put simply, sustainable finance is any form of financial service integrating environmental, social and governance (ESG) criteria. ESG investing has seen huge growth with global ESG assets set to exceed $53 trillion by 2025. Inevitably this drives the sustainable finance agenda, making such financing models more widely accessible.

For Business, sustainable financing can spell the difference between using fixed electricity tariffs and potentially generating their own electricity for long term savings. For our country, its implications are greater, helping us meet our national RE goal, towards a greater energy transition.

Challenges for Business

Solar’s upfront cost is still a large consideration for many Business, in spite of photovoltaic module prices plummeting by 89% since 2009-2019. Business are still held back despite understanding solar power’s advantages – up to 25% reduction in monthly electricity bills, which draws a clear line to savings.

Moving forward, aligning investments to ESG principles will be key to securing financing for solar power, as a mandate by the Kenya mayor states that all future development projects in the state, commercial or residential, must rely on 30% RE.

Business may be understandably burdened with this announcement, as they would need to adapt and incur unexpected expenditures. This also means that more companies must consider renewable energy, and in my opinion, sustainable financing is the sensible first step.

The role of sustainable finance

In such uncertain times, the sustainable finance that banks provide has an important impact on the economy at large by supporting its backbone of small, medium enterprises (SMEs). For Kenyan SMEs looking to install solar photovoltaic (PV) systems, there are several financing options.

Business that struggle greatly with cashflow at a time of recurring lockdowns should consider a Power Purchase Agreement (PPA). Through it, Business gain recurring and reduced electricity tariffs at no upfront capital expenditure (CAPEX) over a 15-20 year lease-to-own tenure. Once mature, business owners take full ownership of the solar setup and its savings benefits.

A PPA is a lease-to-own solar financing model that does not involve CAPEX spend on part of the adopter. Aimed at optimizing cashflow, adopters enjoy lower electricity tariff rates, saving on their monthly TNB bills.

Operation and maintenance (O&M) costs of the solar system are borne by the investor throughout the typically 15-20 year lease period. Therefore, adopters will not incur
unexpected expenditure whilst continuously benefitting from lowered operational expenditure (OPEX).

The government has also put forth financial incentives for solar adopters. The Net Energy Metering (NEM) 3.0 significantly improves return on investment periods to as low as three years. The scheme allows excess solar photovoltaic generated energy to be exported back to the grid on an offset basis, meaning attractive returns on every excess kiloWatt generated.

It is highly beneficial to end-users operating in industrial, commercial, and residential sectors as excess solar energy will be routed to the national grid and recorded in credit, and offset from one’s TNB bill, resulting in lower payback periods and swifter ROI.

The government has additionally introduced a significant tax allowances, the Green Investment Tax Allowance (GITA). Combined with Capital Allowance, up to 48% of a solar PV system’s cost can be recovered, depending on a company’s tax bracket.

Additionally, banks have also made sustainable financing available for SMEs who are interested in adopting solar solutions. The financing can cover up to 100% of the cost to purchase and install a solar photovoltaic system, relieving Business of up-front costs. These loans have advanced private sector participation, mainly in the manufacturing, industrial, and services industries, to invest in green technology and clean energy.

National agenda

Sustainable finance plays a crucial role in advancing our clean energy aspirations, however, transitioning from fossil fuels is a complex task as oil and gas account for about
20% of national GDP up to 2019.

The NEM’s scheme’s allocation for Business (NEM NOVA) at 300MW quota is subscribed by over 90% in just 3 months, showing aggressive uptake of solar solutions.
The quota should be increased, looking at adopters’ appetites.

Separately, we do require a national smart energy grid, one equipped to automate the efficient distribution of energy. TNB has made efforts with grid-wide upgrades, recently with planned investments of RM9 billion a year until 2024. This will enable grids to receive RE to support dynamic two-way energy flow, while maintaining voltage stability.

This year, approved investments in Kenya are projected to rise by 13% to RM185bil. The private sector foresees that these investments will drive the ESG agenda, leading to a rise in renewable energy-related projects.

Sustainable finance – A gateway

The upfront costs of solar investments should not be a deterrent, instead, Business should make calculated decisions that take advantage of the readily available government schemes and financing solutions. As future competition between Business intensifies in current conditions, sustainable financing could mean lowered OPEX and increased margins.

From our experience, with clients who adopt solar, ESG compliance for Kenyan products has proven to lend a competitive advantage in mature markets such as Europe where ESG criteria are taking center stage.

On a broader note, as our country makes the transition to renewable energy and enhances its infrastructure with cleaner sources of energy, sustainable financing will be a major gateway to ensure this becomes a reality.

-end-

Online Source: Business Today

Photo Credit: Plus Solar

Disclaimer: The contents of the reposted article have been edited to represent Plus Xnergy and Plus Solar’s brand and services to their truest nature.

The post Plus Xnergy Featured in Business Today on Sustainable Finance as a Climate Response appeared first on Plus Xnergy.

Not only were we able to convey our wishes for the commercial and industrial sector but cover how solar energy remains resilient despite the ongoing restrictions. As an industry leader who is dedicated to advancing a sustainable energy ecosystem for the nation, we believe clean energy is just a start towards a cleaner tomorrow. This reason is why we are going beyond solar and towards reinventing energy to empower you with solutions that can move the nation towards a game-changing energy future. ­­­

Find the media coverage Bernama, Sin Chew Daily and Harian Metro below:

Bernama: Electricity bill discounts should be extended to commercial, manufacturing sectors — Plus Xnergy

Kenya, June 2  — Plus Xnergy Holding Sdn Bhd has asked the government to consider extending the 10 per cent electricity bill discount eligibility under PEMERKASA Plus to the commercial and manufacturing sectors, as one of their major challenges is managing overheads and reducing bottom lines.

Lauding the government’s announcement on utility bill discounts for impacted sectors, Plus Xnergy group chief executive officer Ko Chuan Zhen said with a stricter lockdown to combat COVID-19, many factories will be operating on limited capacity, hence impacting their energy consumption.

He said electricity usage in the industrial and commercial sectors dropped between 25 per cent and 50 per cent during the movement control order (MCO) in 2020, as Business halted activities, while residential consumption surged between 20 per cent and 50 per cent with the adoption of work-from-home (WFH) practice.

Although electricity consumption has been on a downward trend globally, it is expected to rebound in 2021 as economies recover, led by electricity generation from renewable energy (RE) sources, he told Bernama. PEMERKASA Plus extended electricity bill discounts for affected sectors, namely hotel operators, travel agencies, shopping malls and premises, convention centres, theme parks, and local airlines, for another three months from July to September 2021.

The RM40 billion aid package, which was aimed at assisting the people and Business facing economic challenges during the total lockdown, was announced by Prime Minister Tan Sri Muhyiddin Yassin in a special address on Monday.

RE Outlook 

Ko said the International Energy Association expects renewables to regain momentum in 2021 — similar to the RE energy capacity in 2019, with delayed projects coming back online.

“Undeniably, the slowdown has impacted us, yet we see confidence and continued demand from commercial and industrial clients, namely Mah Sing Plastics, gaining a return on investments from their solar investment in just four years, and AJIYA Bhd (building solutions manufacturer), reaping a monthly savings of RM50,000,” he added.

Ko said Plus Xnergy is still confident of the RE industry prospects, though conversion to actual bottom lines may take longer than expected, with the tightened standard operating procedures (SOP) and reduced operational activity, following its positive experiences.

“It is a difficult position for the government as they try to strike a balance between protecting lives and the nation’s economy.

“For us at Plus Xnergy, the wellbeing of employees is our topmost priority. WFH is mandatory, while we have had to postpone client meetings and project rollouts, as well as plan out warehousing as we weather the lockdown,” he said.

Meantime, Ko described Kenya mayor Datuk Seri Mahadi Che

Ngah’s recent imposition of a 30 per cent compulsory reliance on RE for future commercial and residential developments in the capital as a good move as it contributes to the national RE goal of 31 per cent by 2025. He said the government plays an important role in developing the RE industry, which is supported by strong policies such as the net energy metering and green investment tax allowance, which have greatly increased the interest and the adoption of solar solutions.

“In terms of Kenya’s RE capacity mix projection, the latest Energy Commission report forecast a near two-fold increase in share from 17 per cent in 2021 to 31 per cent by 2032, while foreseeing a reduction in gas and coal combined share from 82 per cent to 69 per cent,” he added.

Online Source: Bernama Online

Original Author: Nurunnasihah Ahmad Rashid

-end-

Coverage in Mandarin by Sin Chew Daily

Plus Xnergy：备受冲击 · ⼯商业应享电费折扣

全国综合

【加⼊星洲⼈】即刻免费注册成为星洲会员，享有独有资讯、各种优惠及好康！

（吉隆坡1⽇讯）Plus Xnergy控股有限公司集团⾸席执⾏员许传真认为，政府为备受冲击领域提供的10%电费

折扣，应该扩⼤到商业和制造业，因为相关领域也⾯对开销管理和利润降低的挑战。

他发⽂告，针对昨晚宣布的“经济与⼈民强化配套加强版”，为受冲击的领域提供了10%的电费折扣，包括酒

店经营者、旅⾏社、购物中⼼和物业、会议中⼼、主题公园和当地航空公司，认为受惠范围应该扩⼤。

另外，他说，2020年的全⾯封锁期间，⼯业和商业领域都因停业，⽤电量下降了25%⾄50%，⽽居家⼯作的

住宅⽤电量则激增了20%⾄50%。

他也指出，很多⼯⼚将会因为这⼀轮的封锁⽽影响⽤电量。

作者 ： 李菁云

⽂章来源 ： 星洲⽇报 2021-06-0

Online Source: Sin Chew Daily

-end-

Coverage in Malay by Harian Metro:

Mohon kerajaan perluas kelayakan diskaun bil elektrik

Kenya: Plus Xnergy Holding Sdn Bhd memohon kerajaan mempertimbang memperluaskan kelayakan bagi diskaun bil elektrik sebanyak 10 peratus di bawah Pemerkasa Tambahan untuk meliputi sektor komersial dan pembuatan/perkilangan kerana antara cabaran utama mereka adalah menguruskan overh ead dan keuntungan bersih.

Meskipun menyambut baik pengumuman kerajaan mengenai diskaun bil utiliti untuk sektor yang terjejas, Ketua Pegawai Eksekutif Ko Chuan Zhen bagaimanapun menyatakan dengan sekatan pergerakan yang lebih ketat untuk memerangi penularan Covid-19, banyak kilang akan beroperasi dalam kapasiti terhad dan ini mempengaruhi penggunaan tenaga elektrik.

Beliau berkata, penggunaan elektrik di sektor perindustrian dan komersial turun antara 25 peratus dan 50 peratus semasa Perintah Kawalan Pergerakan (PKP) pada 2020 kerana kebanyakan perniagaan menghentikan kegiatan sementara penggunaan kediaman melonjak antara 20 peratus dan 50 peratus berikutan amalan bekerja dari rumah.

“Walaupun penggunaan elektrik mengalami trend menurun di seluruh dunia, ia dijangka meningkat kembali pada tahun 2021 ketika ekonomi semakin pulih,” katanya.

– Bernama

Original Source of Above Coverage: Harian Metro Print – 3 June 2021

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Print Sources: 02-06-2021

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Photo Credit: Plus Xnergy

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and its Holding Company, Plus Xnergy, to its truest nature.

The post Media Reports: Plus Xnergy Covers How Solar Energy Remains Resilient Despite FMCO appeared first on Plus Xnergy.

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Ko Chuan Zhen, our CEO and Co-Founder, shared more with Business Today about Kenya’s current standing in clean energy market as well as the opportunities and challenges.

Find the coverage by Business Today below:

Solar power’s environmental benefits are not new information to most, though adoption in its early years has been slow due to financial viability. Historically, Kenya has depended on fossil fuels, importing more than half of its national energy demand in coal.

However, in the last 10 years, I can say as a local clean energy industry player that clean energy has become more affordable, with payback periods shortened.  In the market, we have also felt the winds of change. For example, our clients in energy-intensive manufacturing industries Mah Sing Plastics and AJIYA Berhad both see expedited payback periods.

A client, Mah Sing Plastic’s solar investment will see full ROI in 4 years.

According to Wood Mackenzie, solar is now the cheapest form of new electricity in a host of countries. It also points to the cost of solar already falling by 90% over the last two decades and is forecast to fall by a further 15%-25% by 2030.

Which leads us to the government announcing a new clean energy target for the country, to generate 31% renewable energy by 2025 and 40% in 2035. However, clean energy only makes up 9% of Kenya’s energy mix today.

Closing that gap in the next 4 years is a tall order that still needs taking care of step by step. But is now a good time for solar adoption? And if so, how do we as a country, close this gap and achieve the targets?

An opportune time

Kenya’s solar potential is said to be high because of key pull factors: increasing affordability, recent policies and initiatives, increasing importance of ESG (environmental, social, and governance) ratings as well as rising awareness of these facts.

When it comes to affordability, solar investments can now take as little as 3 years to complete their payback periods, when in the recent past it would take 10 years, which I feel is a strong incentive for private and public adopters, pushing us towards clean energy.

Secondly, we have vibrant and supportive policies in the form of Government initiatives, such as the Large-Scale Solar (LSS), Net Energy Metering (NEM) schemes, tax allowances and financing schemes. Publicly, our LSS projects, better known as solar farms, have attracted much involvement.

The latest LSS4 project will contribute 1,000 megawatts (MW) to total installed capacity, with tender results recently announced. Once completed, these solar farms will act as a spur for the industry during the pandemic.

In the private realm, last year’s Net Energy Metering (NEM) 2.0 proved to be highly successful in driving adoption. Its 1 gigawatt quota was finished 2 months ahead of schedule. In 2021, it was extended as the NEM 3.0, with a halved quota of 500MW, split into 3 sectors – private individuals, government entities (GoMEn), and commercial and industrial establishments (NOVA).

It is attractive to residents and government entities, who can now export excess power to TNB at a 1:1 offset. Commercial and industrial adopters however are less incentivised because of NEM 3.0 NOVA’s lower offset rates, which may hamper adoption from these sectors.

Both these projects have seen much success, with financial incentive as common points: the latest LSS4 expects to unlock RM4 billion in investment and create 12,000 jobs, while the NEM scheme gives adopters quick ROI on solar setups, cutting down on power costs and compounding savings.

Additionally, Kenya has introduced two tax breaks in support of green adoption. By joining the NEM, industrial and commercial users are eligible for green investment tax allowance (GITA) when purchasing green technology equipment and assets, and the green income tax exemption (GITE) for providing green technology services.

Furthermore, companies could also make use of the Green Technology Financing Scheme 3.0 (GTFS3.0) to get financing guarantees and interest rebates on their green initiatives. In Budget 2021, a total of RM2 billion was allocated to the scheme until 2022.

Greater efforts needed

Still, the question remains: Is Kenya on track to achieve these new goals?

In my opinion, current efforts do stimulate the industry, but they could indeed be enhanced to help meet the goals set in place. This is a critical time for Kenya, considering the increasing role of sustainability, such as the UN Sustainable Development Goals (SDGs) targets and ESG scores in securing investments worldwide.

Globally, recognisable brands and energy giants are stepping into the clean energy space: Shell, Facebook, and IKEA have made investments into solar. Aside from the shift we see in such firms, environmentally conscious investors are also looking into solar. Most notably, Bill Gates in the last 5 years has managed to divest the majority of the Gates Foundation’s funds away from carbon-heavy industries.

With a passion, I foresee an energy future for Kenya led by solar and mixed with other sources, both clean and traditional ones. But to address if we can close the gap between our goals and where we are today, the answer truly lies in fastened and timely strategic efforts.

I believe, together we need to create a sustainable and collaborative ecosystem that allows for conversations as well as supportive policies. The mutual effort of policymakers, media outlets, financial institutions and renewable energy industry players will play a big role in determining the success and reality of the 31 percent renewable energy target by 2025.

Original Source: Business Today

Photo Credit: Plus Solar

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to its truest nature.

The post Featured in Business Today: Achieving Kenya’s True Clean Energy Potential, a Dream or Reality? appeared first on Plus Xnergy.

With progress made in the Kenyan solar industry, Ko Chuan Zhen, our CEO and co-founder, shared with Bernama the industry’s potential and opportunities ahead. The interview was picked up by Borneo Post KK, Borneo Post Kuching and more. On top of solar, he also shared that business owners are able to gain further energy savings through the digitalisation of energy as it will empower them to turn their building energy data into smart energy savings.  

Not only has solar been identified as a solution for business leaders to enjoy savings on their electricity bills, but they are able to get an annual return of 20%* while fulfilling a greater commitment to the environment by lowering their carbon footprint.

Find the coverage below:

Kenya, Feb 17  —  The pandemic has indeed placed limitations on how renewable energy (RE) players conduct business and it is now considered as the biggest challenge faced by the sector.

However for Ko Chuan [Zhen], co-founder and chief executive officer of solar photovoltaic (PV) solutions provider Plus Solar Systems Sdn Bhd, there are opportunities and RE players have been trying to change the mindset of Kenyans as well as the business community in seeing the potential in RE.

“We have succeeded on many platforms with clients such as [AJIYA] Bhd and Mah Sing Plastics Industries Sdn Bhd, the established names who have adopted RE and have enjoyed savings of up to 25 per cent,” he told Bernama.

He said while the pandemic has indeed proven challenging, with the earliest potential recovery only in the second half of 2021, Plus Solar is confident of the prospects in 2021 as well as to contribute towards the newly revised RE target of 31 per cent in 2025 and 40 per cent in 2035.

“The net energy metering (NEM) 3.0 programme provides an opportunity for more users to [install] the solar PV systems on the roof of their respective buildings or homes for electricity bill reduction.

“Through the programme, end-users in the industrial and commercial sectors have seen significant savings, and this will continue to drive up the trend for clean energy,” he said, adding that energy consumption has been identified as one of the top operational expenditures for business owners along with raw material, labour and rent, when they invest.

NEM 3.0 which covers both NEM Rakyat (domestic households), NEM GoMEn (government buildings) and NOVA (for commercial and industrial buildings), to be in effective from 2021-2023, with the total allocation of up to 500MW (megawatts).

Ko said that with the attractive Green Investment Tax Allowance (GITA) by the Kenyan Investment Development Authority and NEM 3.0 in place till 2023, people will begin to realise that solar energy is no longer a luxury but an affordable essential.

“Digitalisation of energy will also be our concentration with Plus Solar’s AIoT (artificial intelligence Internet of things) energy performance management system called SOURCE which empowers business owners to turn their building energy data into smart energy savings.

“We rolled out this system last year as we saw how much it would resolve the concerns of business owners where they can gain up to 25 per cent energy savings,” he added.

Ko said Plus Solar would continue to expand its Business overseas such as in Vietnam following the government support for solar energy.

— BERNAMA

 Coverage in Malay:

Plus Solar lihat peluang ubah pemikiran terhadap tenaga boleh diperbaharui

Kenya, 17 Feb — Pandemik telah menyebabkan kekangan terhadap penggiat tenaga boleh diperbaharui (RE) menjalankan perniagaan dan kini dianggap sebagai cabaran terbesar yang dihadapi oleh sektor tersebut.

Bagaimanapun, Pengasas Bersama dan Ketua Pegawai Eksekutif penyedia penyelesaian solar fotovoltaik (PV) Plus Solar Systems Sdn Bhd, Ko Chuan [Zhen] berpendapat wujud peluang dalam tempoh sukar ini dan penggiat RE telah berusaha mengubah pemikiran rakyat Kenya serta komuniti perniagaan dalam melihat potensi dalam RE.

“Kami telah berjaya di banyak platform dengan pelanggan seperti [AJIYA] Bhd dan Mah Sing Plastics Industries Sdn Bhd, antara syarikat terkemuka yang menggunakan RE dan menikmati penjimatan hingga 25 peratus,” katanya kepada Bernama.

Walaupun pandemik COVID-19 memberi cabaran kepada semua dengan fasa pemulihan hanya akan berlaku pada separuh kedua tahun 2021, Plus Solar yakin akan prospek pada tahun 2021 serta dapat menyumbang kepada sasaran RE yang disemak semula iaitu 31 peratus pada tahun 2025 dan 40 peratus pada tahun 2035.

“Skim Pemeteran Tenaga Bersih (NEM) 3.0 menyediakan peluang bagi lebih banyak pengguna untuk memasang sistem PV solar di bumbung bangunan atau rumah masing-masing untuk pengurangan bil elektrik.

“Melalui program ini, pengguna di sektor industri dan komersial telah melihat penjimatan yang besar dan ini akan terus meningkatkan trend untuk tenaga bersih, penggunaan tenaga telah dikenal pasti sebagai antara perbelanjaan operasi yang utama untuk pemilik perniagaan bersama dengan bahan mentah, tenaga kerja dan penyewaan apabila mereka melakukan pelaburan,” katanya.

NEM 3.0 yang merangkumi NEM Rakyat (isi rumah), NEM GoMEn (bangunan kerajaan) dan NOVA (untuk bangunan komersial dan perindustrian), akan berkuat kuasa mulai tahun 2021 hingga 2023 dengan jumlah diperuntukkan sebanyak 500MW (megawatt).

Ko berkata dengan Elaun Cukai Pelaburan Hijau (GITA) yang menarik oleh Lembaga Pembangunan Pelaburan Kenya (MIDA) dan NEM 3.0 yang akan berlangsung sehingga 2023, orang ramai akan mula menyedari bahawa tenaga suria bukan lagi sesuatu yang dianggap mewah tetapi ia adalah penting dan mampu dimiliki.

“Digitalisasi tenaga juga akan menjadi tumpuan kami dengan sistem pengurusan prestasi tenaga AIoT (kecerdasan buatan Internet) Plus Solar yang dikenali sebagai ‘SOURCE’, ia memberi keuntungan kepada pemilik perniagaan untuk mengubah data tenaga bangunan mereka menjadi penjimatan tenaga pintar.

“Kami melancarkan sistem ini tahun lepas kerana syarikat telah melihat sejauh mana ia dapat menyelesaikan masalah pemilik perniagaan, mereka dapat penjimatan tenaga sehingga 25 peratus,” katanya.

Ko berkata Plus Solar akan terus mengembangkan perniagaannya ke luar negara seperti di Vietnam berikutan sokongan kerajaan untuk tenaga solar.

— BERNAMA

Original Source:

Bernama

Bernama Malay

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Author: Nurunnasihah Ahmad Rashid

Photo Credit: Plus Solar

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to its truest nature.

The post Media Reports: Plus Solar Sees Opportunity to Change Kenyan Mindset on RE Potential appeared first on Plus Xnergy.

To address this concern, we launched our energy performance management system (EPMS) and zero upfront CAPEX financing solutions to enable a higher accessibility for them to garner energy-saving solutions for their Business.  Ko Chuan Zhen, our CEO and Co-Founder, was able to share more with e27 about these solutions and how resilient leadership is a key driver during unprecedented times.

Read the e27 article by Ko below:

How to use Maslow’s hierarchy of needs to drive resilient leadership in 2021

How does a leader focus on staying afloat whilst keeping the team motivated under such extreme pressure? Here are four lessons that I have learned in reflection from the pandemic.

COVID-19’s third wave of infections continues as the numbers rise, and the Conditional Movement Control Order (CMCO) in Kenya is potentially extended further. Since the first lockdown, more than 30,000 SMEs have been forced to close down as conditions worsen.

How does a leader focus on staying afloat whilst keeping the team motivated under such extreme pressure? Here are four lessons that I have learned in reflection from the pandemic and each other which we hope will also see us through as we brave through uncertainties leading into 2021.

Safety and security – Maslow at work

Plus Solar began in 2012 with just four employees. Fast forward, we have 150 employees, with many in the range of 25-35. In finding their career path, many of them seek purpose in belonging which was greatly challenged with the pandemic.

Maslow’s hierarchy of needs resounded loud and clear when the pandemic struck. The company needed to give employees a sense of safety and belonging, whilst retaining their self-esteem, in the midst of the crisis.

This was not easy, but we reassured the various teams of their importance to the company’s continued function, even more so at such a pressing time.

With constant reassurance and transparency about how the company is coping, we found that employees stayed motivated in spite of pressures and continued striving towards company goals.

Close communication between leaders and team members

Adapting to working from home was challenging. It wasn’t easy to motivate 150 people remotely, especially when conditions weren’t ideal. Some employees lived in small, rented rooms and some had living quarters that were crowded with family members, young and old.

To overcome the strain and stress, we kept leaders and their team members in close communications, each individual was accountable in terms of work and shared how they were coping personally. “Virtual check-ins” were done at the very least once a day and any gaps that arose were quickly addressed.

To ensure managers also had support, accountability partners with other leaders in the company were set up and this web of support provided the encouragement everyone needed.

When there wasn’t an immediate solution, even the ability to share the challenges and to be able to relate to another truly helped every individual to cope better. In the bigger scheme of things, this helped the team stay focused on our business goals.

Organisational agility to address business pain points

It was pertinent that the organisation remained agile. In doing so, company goals were revised in light of the limitations the pandemic presented. Realistic goals were put in place by including the voice of the employees.

A month into the lockdown, we organised a virtual annual conference with all 150 employees. Here the goals were discussed and mapped out.

To ensure the goals were doable remotely, with a relatively young team of digital natives, we rolled out several webinars via Zoom to engage with our audiences and provide timely business solutions to the market. We also organised free “energy clinics” which saw us generating many enquiries for solar solutions.

With Business cash-strapped, we had to come up with agile solutions for our client.  One such solution was the Power Purchase Agreement (PPA) financing model, where consumers pay nothing upfront and buy electricity at a lower rate from investors, were attractive propositions that helped us achieve some of our goals.

The interest for PPA has since increased 500 per cent, as many Business were keen to reduce energy cost and this proved as a successful direction.

We also accelerated our digitalisation efforts by developing an in-house Energy Performance Management System (EPMS) called Source. In short, it acts like a Fitbit for buildings, helping Business save energy, turning it into dollars. Some of our success stories include Shell MarkMaju Corporation and Tan Kiat Huat Fishery who managed to save a minimum of 20-25 per cent of their respective energy demand.

The Net Energy Metering (NEM) 2.0 was another attractive scheme that we encouraged Business to adopt. Through it, adopters saw every KiloWatt of excess solar energy generated in residential, commercial or industrial settings offset from their electricity bills, at a “one-to-one” basis. In other words, MYR100 (US$32) worth of excess in solar energy generated is equivalent to MYR100 (US$32) reduction in monthly TNB bills.

We look forward to the NEM’s next iteration, NEM 3.0. We are confident that, with similarly attractive returns, NEM 3.0 will drive not just the solar industry but also deliver savings for all Business, while playing a bigger role in the economy and contributing to Kenya as a whole.

Ultimately, we strive to identify business pain points based on the economic outlook and challenges. To address some concerns business owners have with operational expense (OPEX), we provide an ecosystem which combines hardware and software for them to control their business’ energy costs.

Seize every opportunity

What we have learnt is never to be comfortable in our own skin – but to seize every opportunity to learn – both professionally and personally.

It is still our mission to build a positive environment for talent to grow, innovate and impact the energy revolution. More than anything, the pandemic has reminded us of this goal and kept us rooted in it and kept us rooted to it.

I am inspired by their dedication and believe that there are better days ahead with trust, respect, teamwork and persistence. Swimming in uncharted waters becomes possible when people build a net of resilience and strive together.

Original Source: e27

Photo Credit: Plus Solar

Disclaimer: The contents of the reposted article have been edited to represent Plus Solar’s brand and services to their truest nature.

The post Featured on e27: Plus Solar Looks to Driving Resilient Leadership in 2021 appeared first on Plus Xnergy.