KUALA LUMPUR, Jan 11 — The government will provide the appropriate support through its policies in promoting the development of the country’s energy transition ecosystem.
Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad said energy transition, which is in line with Malaysia’s aspiration to be a carbon-neutral nation, is very important but it must be inclusive without leaving out or burdening anyone, especially the B40 group.
“The ministry hopes efforts towards the use of renewable energy (RE) will encourage all Malaysians to use more efficient and affordable energy.
“In addition to lowering the cost of living, it should also protect the vulnerable groups who are often victims of climate change,” he said during a working visit to Tenaga Nasional Bhd’s (TNB) headquarters yesterday.
TNB, in a statement issued today along with the minister’s speech text, said Nik Nazmi received a briefing from its president and chief executive officer Datuk Baharin Din about the company’s important role in ensuring safe, reliable and quality electricity supply to more than 9.66 million customers in Peninsular Malaysia.
Nik Nazmi further said investment in electricity infrastructure development investment is crucial in line with TNB’s commitment to spearheading the country’s energy transition by championing RE generation and implementing the Energy Transition Plan.
Realising its importance, the government has approved a capital expenditure of RM20.6 billion for Regulatory Period 3, which runs from Feb 1, 2022, to Dec 31, 2024, he noted.
He praised TNB’s efforts to switch to solar energy, hydro and generation technology using hydrogen and ammonia to reduce carbon emissions, and said it was a good start to address the issue of climate change and achieve a net zero emission cycle economy.
“The ministry realises that most of TNB’s profits are used to develop the company’s main assets to further strengthen the country’s electricity supply system for the well-being of the general public,” Nik Nazmi added.
Meanwhile, Baharin said that as a company sensitive to climate change, TNB took a bold step to announce its 2050 sustainability direction aspirations and its commitment to lead Malaysia’s energy transition journey. TNB has set a target to achieve net-zero emissions by 2050.
“In addition to the net-zero carbon emission target, measures to accelerate the energy transition include expanding the RE market, strengthening the grid and developing the electric vehicle ecosystem.
“All these steps contribute to nature and in dealing with climate change. It transforms electricity generation and drives new growth sectors related to energy transition including low carbon mobility, energy storage and new energy such as hydrogen,” he said.
In moving towards net-zero carbon emissions by 2050, TNB is committed to achieving a target of 8,300 megawatts of RE in 2025, followed by a 35 per cent reduction in carbon emission intensity and a 50 per cent cut in coal generation capacity by 2035, he added.
— Bernama
