PM Launches Energy Transition Roadmap, Including RM2bil Facility

August 29, 2023

KUALA LUMPUR: Prime Minister Anwar Ibrahim launched the National Energy Transition Roadmap (NETR) today, with Putrajaya allocating a RM2 billion “seed fund” as an energy transition facility.

Anwar said while Malaysia’s move to embrace sustainability has been gaining momentum, there is a need to ensure energy is affordable and secure.

“The NETR will drive the creation of high-paying job opportunities and boost domestic and foreign investment participation while ensuring the continuity of Malaysia’s foreign energy supply.

“Ultimately, this will make Malaysia a regional leader in the clean energy industry,” he said at Kuala Lumpur Convention Centre.

He said the national energy transmission facility will ensure a seamless flow of financial resources towards energy transition projects that are “marginally bankable and yielding below-market returns”.

This includes investment in electric vehicle (EV) value chain, hydrogen and carbon capture and usage storage (CCUS) technologies.

Anwar, who is also the finance minister, said an investment of at least RM1.2 trillion is needed between 2023 and 2050 to enable responsible energy transition.

He also said the National Energy Council will be activated to ensure holistic energy planning and policy development, while monitoring the progress of the roadmap.

Natural resources, environment and climate change minister Nik Nazmi Nik Ahmad, economy minister Rafizi Ramli, and Perak menteri besar Saarani Mohamad were present at the launch of the roadmap, held in conjunction with Tenaga Nasional Bhd’s Energy Transition Conference.

The roadmap identities six energy transition levers, along with 10 flagship projects and 50 initiatives.

Anwar said the champions of the projects and initiatives are among the public sector, government-linked companies (GLCs) and industry players, signifying a whole-of-Malaysia approach.

He said Putrajaya will also launch a major retrofit programme to enhance energy efficiency in government buildings.

An energy service companies (Esco) platform will be established to serve as an intermediary that pools government building retrofitting projects and encourage public-private coordination in the Esco market, he said.

Source – Free Malaysia Today

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