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TNB’s aggressive and ambitious plans
Tenaga Nasional Berhad (TNB) has dealt the ace by revealing its ambitious plans to overhaul its energy mix and to go full steam into Renewable Energy (RE) which will be a marked difference from the present where they operate power plants running on coal.
They unveiled a 30-year plan with the end goal of achieving net-zero emissions by 2050 which TNB stated will be a ‘sustainable pathway’ and will also serve to future-proof the organization to ensure its revelance for many more years.
For its move into greener energy sources the plan is to not only build or invest in new RE assets locally but more significantly to acquire assets overseas in solar, wind and even hydrogen. Venturing aboard is understandable as the domestic power market is relatively small.
The government has set a goal to increase the country’s installed capacity for RE from 7,995MW currently to 18,000MW by 2035. TNB plans to double its RE capacity to 8,300MW by 2025 from 3,400MW currently.
The Energy Commission (EC) in a detailed report highlighted that the government has increased its renewable target to hit 31 percent of the country’s energy mix by 2025 and to grow it even bigger to 40 percent of the energy mix by 2035.
Ultimately, energy companies like TNB will need to make conscious choices to future-proof the company and to start to transform its business rather than to hang on to what they are today and create a new operating model that is fit for the future.
-THE MALAYSIA VOICE