SHANGHAI, Dec. 30, 2022 /PRNewswire/ -- On December 30, the "China-Malaysia Virtual Power Plant Project Achievements Conference and China-Malaysia Virtual Power Plant Development Cloud Forum" was held online by SPIC Shanghai Energy Technology Development Co., Ltd. (hereafter as SETD) to jointly explore the development trend of virtual power plants under the worldwide green and low-carbon transformation.

Shanghai Energy Technology Development Co., Ltd. (SETD) is a subsidiary of China's State Power Investment Corporation Limited which is one of the five largest power generation groups. This event is of great significance for China and Malaysia in the cooperation of virtual power plant business and promotes the green and low-carbon energy transformation.

In recent years, as an important configuration in the transformation of new power system, virtual power plant has become increasingly mature in policy support, technical verification and business model, etc.

In 2022, SETD, together with domestic and Malaysian universities and counterparts, led the preparation of the research report Development Potential Analysis and Cooperation Prospect of VPP in China and Malaysia both in English and Chinese.

The report offers an in-depth analysis of the energy and power development status of China and Malaysia and the development potential of virtual power plants in the two countries. It also puts forward a preliminary design of the operation scheme of virtual power plants in Malaysia, as well as suggestions for bilateral cooperation in this field.

At the forum, the panelists exchanged views and gave suggestions around the development status and trend of new energy and energy storage in Malaysia, and the development potential, technical research, construction and operation and business model of virtual power plant.

In the new wave of energy revolution characterized by large-scale development and utilization of new energy, virtual power plant has played an increasingly important role in the energy transformation and development of power system.

Looking forward, China and Malaysia will work together to promote green, low-carbon and smart energy transition and make new contributions to tackling climate change and achieving sustainable development for mankind.

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   Caption: China-Malaysia Virtual Power Plant Project Achievements Conference was held online on Dec. 30.