TNB’s Renewable Energy Ventures Bring Long-Term Benefits to Malaysia’s Economy – PM
LONDON: Prime Minister Datuk Seri Anwar Ibrahim expressed his confidence that Tenaga Nasional Berhad’s (TNB) foray into renewable energy (RE) in the United Kingdom (UK) will have a positive long-term impact on Malaysia’s economy.
In his speech, Anwar highlighted that the government is encouraging TNB and government-linked investment companies (GLICs) to focus on new investments in Malaysia. He emphasized that the country’s economy is growing rapidly and that Malaysia is increasingly becoming an attractive destination for investment in the region.
“Our economy is expanding, and we are part of a dynamic region that is gaining attention as a top investment destination. Therefore, TNB, along with other industry players, has been entrusted with the responsibility of conducting research and exploring new opportunities, particularly in renewable energy,” Anwar stated.
He also expressed his belief that regional cooperation in energy through the ASEAN Power Grid would advance the region’s energy transition. Anwar pointed out that TNB’s initiatives in the UK would benefit Malaysia in the long run, particularly in driving technological advancements in energy.
The Prime Minister further stressed that attracting investment requires innovation from corporate players and professionals, with government support to enhance new investments.
Anwar made these remarks during the launch of the Eastfield and Bunkers Hill solar farms, with a combined capacity of 102 Megawatts (MW), in London on Thursday evening (local time). These solar farms highlight Malaysia’s expertise in providing sustainable energy solutions globally.
The solar projects are expected to reach Commercial Operation Date (COD) in early 2025, supported by a 15-year Contract for Difference (CFD) secured in July 2022. TNB currently owns, develops, and operates renewable energy assets across the UK and Ireland.
Meanwhile, TNB President and CEO, Datuk Megat Jalaluddin Megat Hassan, expressed pride in TNB’s contributions to the global renewable energy sector. “We aim to leverage the expertise we’ve built over the past 75 years while embracing technological advancements and prioritizing talent development in the industry,” he said.
