CI Global Limited (NASDAQ: VCIG) is setting a target to develop and acquire up to 100 megawatts (MW) of solar photovoltaic (PV) projects across Southeast Asia and Europe within the next five years.
This expansion is expected to generate approximately US$200 million in revenue over the next 20 years and significantly contribute to VCI Global’s long-term growth.
As part of this initiative, VCI Global plans to source at least 70% of the 100 MW from projects in Malaysia, leveraging key government programs such as the Corporate Renewable Energy Supply Scheme (CRESS).
CRESS allows businesses to directly purchase green electricity from renewable energy developers. Through this initiative, VCI Global will supply renewable energy directly to its data center, further enhancing its energy independence while advancing its sustainability goals.
According to Solar Insure, by 2030, data centers are projected to account for 16% of the total U.S. power consumption, a significant rise from just 2.5% a decade ago. This trend highlights solar power as a leading alternative.
Combined with advanced battery storage, solar power can provide nearly continuous energy to AI data centers, reducing dependence on grid electricity and fossil fuels. These initiatives will not only contribute to national renewable energy targets but also align with VCI Global’s long-term growth and strategic vision.
In parallel, VCI Global will seek to acquire solar farms in Eastern and Southeastern Europe, targeting 30 MW of solar capacity in these expanding markets. This international expansion supports the company’s strategy to capitalise on the increasing global demand for clean energy while strengthening its renewable energy portfolio.
The total investment required for these solar initiatives is projected to be US$50 million over five years, with an expected annual revenue of approximately US$10 million over the next 20 years.
This sustainable growth strategy will provide long-term, stable returns, reinforcing VCI Global’s commitment to clean energy and delivering value to shareholders.
“In 2025, renewables will become the largest source of electricity generation. By 2028, renewable energy sources will account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%.
“At the same time, the explosive growth of AI has created an unprecedented demand for power. We view solar energy as one of the most promising renewable energy sources and wish to fully capitalise on this opportunity to meet the growing clean energy demand of AI and the world,” said Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global.
