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

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Bernama

KLSE Screener

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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 the demand for clean energy continues to rise despite the pandemic, we hope that this sustainable resource can be seen as no longer a luxury, but an essential for Kenyans to power a useful, accessible and game-changing energy ecosystem.

Find the coverage by Disruptive Tech ASEAN below:

Government Solar Scheme Sees 100% Uptake Despite Pandemic

Kawan Food Invests RM7.28 million in Solar & AIoT with Plus Xnergy.

Despite the pandemic, the Net Energy Metering (NEM3.0) NOVA scheme, an initiative to increase solar adoption for the commercial and industrial sectors, has already seen a 100% uptake just three months after its launch in April 2021.

“Many have made use of the NEM NOVA, whose swift uptake demonstrates popularity among local Business. I hope the Government considers extending the quota upwards to a range of 1000MW- 3000MW to encourage new interest and meet present demand.

“We foresee rapid job creation within the emerging clean energy sector as more industries recognise the rate of return with solar,“ said Ko Chuan Zhen, Group CEO, Plus Xnergy Holding Sdn Bhd, the nation’s leading total clean energy solutions company.

One such business is food manufacturer Kawan Food who took the leap of faith to invest in a solar project early in the pandemic in 2020, which was recently completed in 2021.

The renowned Asian food specialist invested RM7.28 million in a solar photovoltaic (PV) installation at their headquarters in Pulau Indah Selangor Halal Hub. The sum invested also included an Energy Performance Management System (EPMS) developed by Plus Xnergy.

“We have registered strong earnings and experienced a surge of online orders for frozen food both from local and global markets during this pandemic.

“One of our key moves was to invest in a solar solution, which was recently completed in Q1 2021, with projected savings worth  RM1 million a year. Our high energy consumption would benefit greatly from reductions in operating cost with solar in the long run,” said Andy Yeap, Senior Factory Manager, Kawan Food Manufacturing Sdn Bhd.

“Overall, we are happy to work with Plus Xnergy. Their approach is very professional, providing counsel that draws from their extensive past works, resulting in a smooth sustainable energy transition for us,” Mr. Yeap added.

Kawan Food’s investment includes an energy performance management system (EPMS) called SOURCE by Plus Xnergy, which uses the Artificial Intelligence of Things (AIoT). It manages a building’s energy demand, ultimately translated into better business decisions to optimise energy savings.

“It is vital to be aware of spending, especially during the pandemic. Through SOURCE, we can effectively monitor our energy usage through this digital platform.

“Furthermore, this investment reduces carbon emissions, in line with Global Warming Prevention and contributes positively toward corporate social responsibility and sustainability,” Mr. Yeap continued.

“As we battle high Covid-19 infections, and as Business struggle to stay profitable, a solar investment may not be an immediate decision, though Kawan Food’s adoption is in the interest of long-term benefits,” Ko further concludes.

Original Source: Disruptive Tech ASEAN

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Dagang News

KOSMO

Print Sources: 08-07-2021

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Utusan Kosmo

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Sin Chew Daily

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

The post Media Reports: Kawan Food Invests RM7.28 Million in Solar & AIoT With Plus Xnergy 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

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Coverage in Mandarin by Sin Chew Daily

Plus Xnergy：备受冲击 · ⼯商业应享电费折扣

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（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

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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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Online Sources of Related Coverage

English

The Sun Daily

Disruptive Tech ASEAN

The Kenyan Reserve

NST Online

Business Today

MSN

KLSE Investor

Mandarin

China Press

Malay

Bernama Malay

Terkini 247

Dagang News

Print Sources: 02-06-2021

English

NST

Mandarin

Sin Chew Daily

Print Sources: 03-06-2021

Borneo Post – KK

Borneo Post – Kuching

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.

The post Interviewed by Astro Awani: A Voice for Clean Energy appeared first on Plus Xnergy.

With the dedication to lead the reinvention of energy generation and application, progressively advancing communities, he covered his wishes to provide more value-added solutions within the region and widen the horizons of energy with digitalisation.

Find the coverage by SunBiz below:

This week, SunBiz gets the thoughts and views of Plus Xnergy Holding Sdn Bhd GCEO Ko Chuan Zhen

How has your life experience made you the leader you are today?

Since childhood, I was always full of curiosity and by nature, I was what you might call a “life explorer”. My mum is a good teacher, and that gave me a label as “teacher’s son”, where expectations were high from my parents and others. It was stressful for me and I wanted to let that go.

I was fortunate that I had great exposure. During my university breaks, I backpacked and travelled, speaking to many from various backgrounds and this really widened my view of the world. It played a major part in shaping me and how I think.

I was also a student leader for various clubs, a DJ at Multimedia University Radio, and a debater. Here I gained a more public persona of myself and learned how to position myself and my message with others.

My entrepreneurship journey for the last nine years (since I was 26) really changed and moulded me. Because of the many challenges and responsibilities I have had to carry, I learnt many skills and understood my own nature, talents and weaknesses.

What traits do you look for in your talent or how do you decide who is right for a job?

My key is focusing on 3Ps – passion, purpose and persistence.

Passion. I look at whether a person has strong interest in some area or topic, and whether they are hungry enough. They might still be searching for a passion but it’s fine as long they have a flame that burns, I like to give these talents a chance.

Purpose, which makes a person look for a meaningful job instead of a “I just get my pay, that’s all,” mindset. This point is important.

Persistence. I like people who have faced obstacles and challenges in their past. This is because the more they have faced, the higher the chance of them having to bounce back. This makes them more resilient and agile – enough to face more challenges ahead. Persistent people also have growth mindsets, and they become such an asset and contributor to the company’s growth.

How do you think the industry you are in will evolve?

Currently, the energy industry is controlled and centralised by one entity, Tenaga Nasional Bhd. This industry will eventually decentralise where people will be empowered to power up their own homes.

A real motivation for me is to eventually empower people to use energy in a smarter way, to improve their quality of life. In the near future, hopefully I can help people power up their homes and neighbourhoods without relying on government support.

What advice can you offer those looking to start their career/own business?

I would tell them to firstly look at their passions and where they are at present. They should do something they really like. As the saying goes, “if you find a job you love, you will never have to work a day in your life.”

Secondly, understand your own strengths. But strength and passion are different; just because you like to sing doesn’t mean you can sing well. So it is important to recognise and validate your strength.

Third is to look at global trends. Your direction should be aligned with global trends so you catch the wave of what is happening and developing at present. If you ride with trends, often you won’t go wrong.

Fourth, know what drives the economic engine for the nation.

Anyone who finds an overlapping area in these four circles will in fact find their dream job.

We all know about the industrial revolution, are we in for a technological revolution? Your thoughts.

After Covid, yes. A lot of people have started to see that “if I don’t lead change, change will lead me,” so awareness of the industrial revolution is definitely there already, more so than before Covid. However there are still gaps in the level of infrastructure and technology, in terms of hardware and also application.

How has mentorship made a difference in your professional life?

Mentorship has made a huge difference in my life. From my parents and teachers who have shaped me to be a better person during my school days. And in my entrepreneurial life, where I have been blessed to have amazing mentors who helped me.

I’ve engaged with many great business leaders and professional managers (especially those in C levels). They are able to share much of their experiences, sometimes not just giving me answers but instead acting as my sounding board. They have helped me explore “what I don’t know”, in that they help me find my unconscious competencies or potentials I’m not aware of, while showing me my blind spots as well.

What do you want to accomplish in the next five years?

Professionally, I would like to expand the business to more countries in the Apac region, providing them more value added solutions as well and bringing clean energy to many more.

Secondly, I want to widen the horizons of our energy solution, beyond just solar and into digital solutions, and other types of clean energy technologies. Also to focus on Source, our Energy Performance Management System system – which is an AIoT solution and look into deep tech.

In line with social impact, we are carrying out engineering workshops through our Plus Solar Academy. At present we have over 5,000 students. I want to see how we can expand this to include 20,000 students or even more than that in the next five years. I also aim to move into more countries to close the gap between academy and industrial needs.

Best piece of advice you ever got on your career.

This is unspecific to work, again I reiterate: “If you find a job you love, you will never work a day in your life.”

And for living as a whole, “we shall live by design, not by default.” This advice applies not only to work but our lives, as we can design our own careers and other aspects of our lives as well.

How do you stay abreast of issues affecting your industry?

I am part of a group of leaders passionate about energy solutions in the Kenyan Photovoltaic Industry Association. Together we discuss and face the issues surrounding the industry. We try to come up with directions that will help propel the industry and overcome challenges before us. Looking at global trends before us is something we do regularly and see how we can draw from those advances is a plus.

Globally, I look up to Tesla and try to model Plus Solar after them. They are very much our business role model in accelerating the energy transition towards clean energy.

What has been the biggest challenge you’ve faced? And what did you learn from it?

As an entrepreneur, one of my biggest challenges I faced last year was the global crisis. It was a once-a-century problem, bringing complete uncertainty. In leading the company to survive this, I learned that being a principle-based leader and a principle based company is crucial, as only organisations and leaders that stay true to their principles are able to weather the storm together.

Another challenge I’ve had is to align myself, as in keeping what I think, what I feel, what I say and what I do, all consistent. This is important because often, uncertainty and uncomfortable emotions are triggered when our thoughts and actions don’t align. It can lead to internal conflict and low self-esteem, which makes this alignment so important, even though in being honest, I can say it is tough to achieve.

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Grab.

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Two books – 7 Habits of Highly Effective People and From Good to Great.

How do you expect policies on climate change to impact Business in the future?

I expect that future policies on climate changes will be more friendly towards renewable energy, locally and globally. This causes Business to align their decisions with climate change.

Among the many changes we will see include clean energy, with transportation by electric vehicles becoming more popular moving on. My expectation for these policies is an acceleration of the entire energy transition process.

What are the top three factors you would attribute your success to?

My three success factors are quite similar to what I look for in talent. They are human values and strengths, which are passion and persistence, and timing.

Passion relates to my interest in clean energy and solar. With a passionate purpose I can make a real difference in my own creations and in my life.

Persistence has also paid off for me. Having faced so many ups and down, resistance has become my core. I can now always switch to a positive frame of mind to sail through the many storms in my life.

Timing is crucial. I feel we have to acknowledge that we are only humans. By this I mean that we ought to be humble and understand that many things are beyond our control, but at the same time we should be able to spot opportunities when they arise and make full use of them.

Tell us a joke.

I am a joke (the joker).

So I can bring happiness to others.

Original Source: The Sun Daily

Print Version: The Sun Daily – 26-04-2021- (Pg. 11) Business Section

Related Coverage: Daily Express (KK) – Pg. 6

Photo Credit: Plus Solar & The Sun coverage

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 SunBiz: Passion, Purpose and Persistence appeared first on Plus Xnergy.

In the season of COVID-19 and updates in policy, all our teams had to adapt to the new norm to deliver to our clients upon the promise. With the fully depleted NEM 2.0 quota weeks ahead of schedule, the rise of NEM 3.0 scheme and the LSS4 project awards, we interviewed our engineers from our technical team to get an overview of how they are preparing a hassle-free customer experience for our clients.

1. As a team, what would you say has been the most satisfying moment in the past few months?

          Team:

• • Securing NEM 2.0 Quota Amid Depletion: As a team, the hard work and time spent paid off as we managed to secure the NEM Quota although it depleted within a glance.
  • Results for LSS4: When the government announced the result for LSS4 and we found out that several clients that we helped with their proposal had won the bidding. It made all the long hours preparing for LSS4 tender worth it and boosted the team morale in securing this tender.

2. How about the most common set of challenges you face?     

Team: Staying ahead of the curve. We always want to ensure the design of the solar photovoltaic (PV) system fulfils the technical while also being budget-conscious of our clients’ financial feasibility. 

3.  How has the pandemic affected the department? 

 Team: The switch from offline to online: As we needed to work remotely, we prioritised effective communication and positive teamwork. We aimed and still do, to stay above the line by consistent check-ins, positive encouragement through virtual engagements and more. When it came to working with external parties such as local authorities, we needed to adapt to the shift in their schedules, where it meant meetings were postponed because of MCO. In addition, we also saw that because of the pandemic, online submission for applications had increased to ease the process and limit physical contact.

4. What are the factors and qualities that have been found to be important in this industry?

• • Staying Customer-Centric: When we propose a solution to our client, we always make sure that the design makes technical and business sense in terms of dollars and cents to the customer’s needs, the building rooftop and budget.
  • Everything Goes Back to the Environment: The most important aspect of clean energy is the environmental benefits as part of its future. While clean and renewable resources preserve the world’s natural resources, they should also not impose any risk of environmental disasters, such as flooding, landslide, fire, etc. Renewable energy should be secure, stable, and accessible to all. That should be the future of developments. In many parts of the world, renewables represent the lowest-cost source of new power generation technology, and costs continue to decline. Especially for cities in the developing world, renewable energy is the only way to expand energy access to all inhabitants, particularly those living in urban slums and informal settlements and in suburban and peri-urban areas.

5. Final Statements?

As clean and sustainable energy use continues to grow in our nation, we look forward to better integration of the generation system and that the solar PV panels will continue to be advanced to help our environment.  

In order to continuously keep up with market trends and the shifts within the industry, the teams in Plus Solar make it a point to deliver turnkey solutions with excellence for your business. Although the pandemic has caused many changes in day-to-day progress, the adoption of clean energy continues to grow exponentially in our nation which showcases that the world is moving fast and we too, must move fast.

We need to continue to reshape, adapt and have faith in the process and each other. This storm will pass and #TheSunWillStillRise.

To learn more about our engineering design, as well as our services, visit Services or contact us at web@plus-solar.com.my

The post Department Spotlight: Plus  Xnergy  Service - Technical Team appeared first on Plus Xnergy.