Market Growth and Economic Factors Heightened global efforts to combat climate change and the escalating demand for clean energy sources are driving interest in biomass power generation as a viable renewable energy solution. Malaysia’s renewable energy sector, beyond just transitioning to renewable energy, could represent opportunities worth up to RM1 trillion, showcasing the vast potential for investment and development. The biomass power generation market is witnessing a shift towards more efficient and cleaner energy production methods. There is a notable trend towards smaller, decentralised biomass power plants, particularly in rural areas, aiming to minimise transmission losses and enhance energy accessibility. Conclusion The future of biomass waste energy generation appears brighter than ever, propelled by a convergence of favorable factors and a global shift towards sustainable energy solutions. As pioneers in this field, we stand at the forefront of innovation and progress, poised to capitalise on the burgeoning opportunities presented by the evolving energy landscape. Our extensive experience and proven track record in installing biomass waste power plants in Malaysia and Indonesia uniquely position us to lead the charge towards a greener and more sustainable energy future. With a steadfast commitment to technological advancements, we continue to push the boundaries of what is possible in biomass energy generation, driving efficiency, reducing emissions, and maximising output. Moreover, our strategic partnerships and collaborations further bolster our capabilities and expand our reach, enabling us to tap into new markets and leverage emerging trends. By embracing innovation, sustainability, and responsible business practices, we not only contribute to the growth of the bioenergy sector but also play a pivotal role in mitigating climate change and fostering environmental stewardship. As we look ahead, we remain dedicated to our mission of providing cutting-edge solutions that not only meet the needs of today but also anticipate the challenges of tomorrow. With a steadfast commitment to excellence and a vision for a cleaner, brighter future, we are confident in our ability to drive positive change and make a meaningful impact on the world. Chairman and Managing Director/ Group CEO’s Statement 38 Integrated Annual Report 2023
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