KUALA LUMPUR (Sept 23): Renewable energy stocks climbed on early session on Wednesday, led by Samaiden Group Bhd (KL:SAMAIDEN) following the recent announcement of the CRESS Acceleration Package.

Samaiden jumped 17 sen or 7% to RM2.51, while Solarvest Holdings Bhd (KL:SLVEST) rose 14 sen or 4% to RM3.84.

On Sept 18, the Ministry of Energy Transition and Water Transformation (Petra) lowered the CRESS System Access Charge (SAC) for firm supply to 14 sen/kWh, from 20 sen/kWh currently. 

Qualifying projects must achieve Commercial Operation Date (COD) by Dec 31, 2028 and enter into a minimum 10-year developer-offtaker contract. Projects that miss the deadline will revert to the prevailing SAC and terms, with no extension allowed. 

To recap, the SAC for firm supply was initially set at 25 sen/kWh when CRESS was introduced in 2024, before being lowered to 20 sen/kWh on Aug 29, 2025 and subsequently to 14 sen/kWh under this latest Acceleration Package.  

An analyst from AmInvestment Bank expects the new CRESS scheme to trigger a roll-out of Solarvest projects thanks to the lower SAC, especially in the data centre space.

“There is incentive for data centres to do solar under the new CRESS. This is because the tariffs under the new CRESS package would come up to about 45 to 50 sen/kWh compared to their parent electricity tariffs of 50 to 60 sen/kWh,” said AmInvestment.

Solarvest’s battery systems will also benefit, with AmInvestment estimating battery and solar contracts worth around RM3.5 million/MW to RM4.5 million/MW, based on recently announced projects.

About 11,800MW worth of projects are currently being bid on by Solarvest, with about 10% of these coming from battery projects alone.

With this new scheme in place and the potential projects in the pipeline, AmInvestment upgraded its call on Solarvest to “buy” from “hold”, raising its target price to RM4.50 per share from RM3.36 before.

These benefits extend to partnered companies as well, as Solarvest's partner contractor, Kee Ming Group Bhd (KL:KEEMING), saw its stock climb Wednesday morning by four sen, or 1.58%, to RM2.57 per share.