CRESS aims to enhance corporate access to green electricity

The Corporate Renewable Energy Supply Scheme (CRESS), launching in September 2024, aims to enhance corporate access to green electricity in Malaysia. Managed under the GREENS MADANI Initiative, CRESS enables corporations to buy renewable energy (RE) directly from suppliers via the grid system, with a predetermined system access charge.

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This program offers an alternative to existing green energy options like solar PV systems, Renewable Energy certificates, and Green Electricity Tariffs.

CRESS – Potential Benefits for Corporates:

• Enhanced Access to Green Energy: Companies can directly purchase green electricity from identified RE generators, facilitating easier compliance with sustainability goals.
• Reduced Carbon Footprint: By opting for green electricity, companies can significantly lower their carbon emissions.
• Cost and Risk Management: CRESS aims to reduce the risk and cost associated with the national electricity supply system.
• Competitive Market: The program promotes healthy competition among energy developers, potentially leading to better pricing and service options.
• Investment and Job Creation: CRESS is expected to generate over RM10 billion in investments and create approximately 14,000 new jobs in the sustainable energy sector.

Overall, the plan supports Malaysia’s goal to increase renewable energy capacity to 40% by 2035 and 70% by 2050, while fostering a more liberalized and competitive energy market.