TNB to invest $4.5b annually for energy transition

It will invest in regional interconnection to help decarbonise the ASEAN power sector.

Malaysia’s Tenaga Nasional Berhad (TNB) will be investing around $4.5b (RMB20b) annually over the next 28 years in line with its target to accelerate its Energy Transition Plan which aims to reach net-zero emissions by 2050, the company said in a statement.

President and CEO Dato’ indera Ir. Baharan Din said in a forum that the investment will open opportunities for the company to more than double its earnings before interests and taxes.

Bahrain said that the company will also grow its regulated asset base to around $22.4b (RM100b) by 2050 as it continues to invest in the regional grid.

“We will pursue Regional Interconnection that will allow for a wider reallocation of renewable energy resources that will help decarbonise the ASEAN power system as well as strengthen the security of supply,” he said, adding that the grid will enable to company to potentially earn RM7b by 2050.

The fast-tracking of the company’s decarbonisation plan will also raise the enterprise value of TNB Generation (Genco) Sdn Bhd for a possible initial public offering, he said.

TNB Genco aims to reach a revenue of around $8.95b (RM40b) from the domestic generation market by 2050. TNB is also studying gas and hydropower projects in Southeast Asia, targeting a capacity share of around 800 megawatts by the same period.

Also crucial in the company’s sustainability agenda is the TNB New Energy Division which aims to reach 14.3 gigawatts of capacity by 2050, with an equity investment of around $7b, to contribute to the expansion of its renewable energy portfolio.

Bahrain also said they are developing the electric vehicles (EV) ecosystem as part of its energy transition. He said TNB is investing around $20.1b (RM90m) in the next three years to support the adoption of EVs, which will reach 500,000 by 2030 and will account for around $279.7m (RM1.25b) in annual electricity revenue.

Follow the link for more news on

Tenaga Nasional Berhad

Malaysia Renewable Energy

Also Read

Vena Energy’s 53 MW Kasama Solar Project starts operation

Adani Green’s operational capacity up 34% in H1

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition

Some steps they could take are implementing green tariffs and setting infrastructure funds.

19 hours ago

Global clean energy tech market to hit $2t by 2035

This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

19 hours ago

NSW OKs Liverpool Range Wind Farm expansion