TNB to Focus on Energy Transition Tie-Ups
11.20.2023 By Tank Terminals - NEWS

November 20, 2023 [The Star]- Tenaga Nasional Bhd (TNB) is poised to forge partnerships with governments, investors and key stakeholders to accelerate responsible energy transition (ET) while addressing the energy trilemma, reflecting its continued unwavering commitment to driving sustainable development initiatives in Asean.

 

TNB president and chief executive officer Datuk Seri Baharin Din said there is a need for a responsible ET to address the rapidly increasing demand for electricity, and emphasised that TNB is prepared to meet this demand while reducing emissions.

“Within the Asean region, the goal is to source 3,000 gigawatt (GW) of capacity from clean energy. Currently, Asean has installed 95GW of thermal fuel and 188GW of renewable energy (RE). By 2050, the region aims to reach over 2,700GW of RE,” he said.Baharin shared his views on the critical challenge of accelerating a responsible ET in balancing the energy trilemma that highlighted the need for a responsible ET to address the rapidly increasing demand for electricity, energy sustainability and energy affordability during a recent address at the Enlit Asia 2023 conference, Bernama reported.

Highlighting that policy, green technology and funding are key enablers of a successful ET, Baharin stressed the substantial investment required to achieve Asean’s net-zero goals by 2050.

He also expressed optimism in the shifting landscape where governments are actively setting policies to support the growth of low-carbon businesses.

Collaborative partnerships with regional counterparts through platforms like Heads of Asean Power Utilities and Authorities), Senior Officials Meeting on Energy, and Asean Ministers on Energy Meeting have expedited progress towards sustainable energy objectives, he added.

Baharin said Malaysia plays a pivotal role in facilitating collective ET objectives within the region, where the country is bolstering its transmission infrastructure to strengthen regional cooperation and support the interconnection of energy systems across borders through the Asean Power Grid.

“At present, we can support an extra 12GW of new solar plants and battery storage at specified nodal points in our domestic infrastructure, in addition to the existing 4GW of RE.

“We are proactively identifying more nodal points to match our national goal of reaching 70% RE capacity by 2050 and fulfilling the energy demands of neighbouring countries when necessary,” he said.

Meanwhile, he said strategic partnerships are key to advancing Malaysia’s ET goals, of which to date, TNB has signed 29 memoranda of understanding with local and international partners in various ET fields such as solar parks, integration of hydrogen and ammonia in power plants, interconnection, and electric vehicles.

“TNB believes that a collaborative approach, along with supportive policies, technology advancements, and adequate funding, is crucial for a successful ET while addressing the energy trilemma,” he said.

 

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