Selangor Journal
Prime Minister Datuk Seri Anwar Ibrahim (right) chairs the first National Digital Economy and Fourth Industrial Revolution Council meeting for 2023 on August 28, 2023. — Picture via FACEBOOK/ANWAR IBRAHIM

RM2 bln allocation for National Energy Transition Facility — Anwar

KUALA LUMPUR, Aug 29 — The government will allocate RM2 billion as a seed fund for the National Energy Transition Facility to enable catalytic blended financing, said Prime Minister Datuk Seri Anwar Ibrahim today.

He said the facility will ensure a seamless flow of financial resources for energy transition projects that are marginally bankable or yield below-market returns.

“Considering Malaysia’s current state of immature decarbonisation technologies, our progress will hinge significantly on alternative energy sources and robust regional and international collaboration,” he said at the launch of the second phase of the National Energy Transition Roadmap here today.

“As the paramount challenge in energy transition is financing, it is estimated an investment of at least RM1.2 trillion between 2023 and 2050 is needed to enable responsible energy transition,” the prime minister said.

Anwar said in this decade alone, the government requires between RM60 billion and RM90 billion for crucial projects, including for expanding public transport, strengthening grid infrastructure, and reskilling human capital.

He said energy efficiency is a lever that offers effective long-term solutions to manage energy consumption, thus reducing carbon emissions.

Anwar said the government will launch a major retrofit to enhance energy efficiency in government buildings.

“An Esco (energy service company) platform will be established to connect private Escos, which are mainly small and medium enterprises, with government projects.

“The central role of the platform would be to serve as an intermediary that pools government building retrofitting projects and encourages public-private coordination in the Esco market,” he said.

— Bernama

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