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Expert: Digital economy way forward in accomplishing BRI, boosting industry

Digital economy should be the way forward as a major instrument in accomplishing China’s Belt and Road Initiative (BRI) and boosting the industry’s activities, said an expert.

Malaysian Communications and Multimedia Commission member, Datuk Wei Chuan Beng, said the digital economy is crucial for Malaysia as well as other neighbouring countries in elevating poverty via the idea of a digital village to improve healthcare, education and e-commerce.

“It is through the digital economy that we have seen how China has elevated their hardcore poverty,” he said during the CTGN-Bernama Belt and Road Special Joint Programme’s talk show.

Additionally, he said the digital economy would also be a platform for the government to be more effective and efficient.

Earlier in April, Prime Minister Datuk Seri Anwar Ibrahim said Malaysia would continue to work with China in deepening the existing cooperation in the BRI and to expand economic cooperation in new growth areas such as green development and digital economy.

During the three-day visit to China, Anwar said Malaysia would work closely with other Asean member states to ensure that the Asean-China Free Trade Area (ACFTA) benefits all parties involved.

He said the ACFTA would not only deepen trade and investment within the region but also broaden economic benefits with the inclusion of new sectors, namely, digital economy, green economy, competition and consumer protection, as well as micro, small and medium enterprises.

Meanwhile, on investment opportunities, Beijing Belt and Road Cooperative Community president Han Ye said there are more areas for both sides to tap into and explore besides electric vehicles and internet connectivity.

“Maybe these areas are in different kinds of development stages, but certainly people could work harder to explore these areas such as the blue economy where both countries can have some transfer of technologies, increasing the seafood provision for both countries and also to increase the welfare of the livelihood.

“I also know that some internet applications, such as Little Red Book, are also very popular in Malaysia among youngsters.

“So, maybe alongside this kind of popular applications, I suppose there will be investment opportunities for the Chinese side to invest more into the Malaysian market and to explore this great potential market with an ever-growing population in your country,” she said.

Besides the East Coast Rail Link (ECRL), she noted that the two industrial parks, one in China and another in Malaysia, could also be a very good accomplishment in BRI investment.

Currently, Malaysia and China have participated in several collaborations, including the RM75 billion ECRL project, which is expected to be completed in December 2026 and ready for operation in January 2027.

Beijing Foreign Studies University’s School of Asian Studies associate professor Song Qingrun also commented that China had gained a lot from the bilateral relationship and economic development of both sides under the BRI framework.

“This is particularly true in its investments in auto manufacturing products, mobile smartphone products and also the industrial parks where China has invested a lot in Malaysia. China has earned some profits,” he added.

China remained Malaysia’s largest trading partner for 14 consecutive years, with a total trade of RM488 billion last year.

On the investment front, China was the biggest foreign direct investor in Malaysia last year, with investments amounting to RM55.2 billion.

According to statistics from the Foreign Affairs Ministry, total exports to China grew 9.4 per cent to RM210.6 billion last year, while total imports from China stood at RM276.5 billion in the same year, or up 20.7 per cent compared to the previous year. 

Source: Bernama

Expert: Digital economy way forward in accomplishing BRI, boosting industry

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A strong and unified regulatory regime can help Asean reap its potential digital economy value, which is expected to reach US$1-2 trillion (RM4.7 trillion – RM9.3 trillion) by 2030, up from US$300 million (RM1.4 billion) currently, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said the rapid growth of e-commerce and availability of digital platforms such as social networks, and e-commerce marketplaces are an opportunity for small and medium-sized enterprises (SMEs) in Asean to increase their participation in domestic and international markets.

Citing “private intent data,” Tengku Zafrul said about 50 million SMEs use Facebook to find customers, with 70 per cent of their fans being domestic and 30 per cent from outside the country.

“Enhancing data flows will reduce transaction costs, promote the sharing of ideas, and enable users to make use of new findings and technologies. One way is to work towards a comprehensive regulatory framework to increase trust in intra-Asean data-sharing between stakeholders, comprising the reuse of both public and private intent data.

“While enabling the reuse of public intent data may be a more complex process, what we can consider today is to further enable the reuse of private intent data via regulations across Asean,” he said in his speech at the 2023 Asean Business & Investment Summit in Jakarta.

Tengku Zafrul also shared his experience as the former group chief executive officer of CIMB Group, where the bank successfully enabled the cross-border linking of accounts between CIMB Malaysia and CIMB Singapore.

The move has facilitated services such as providing competitive ringgit-Singapore dollar exchange rates for immediate, online fund transfers.

“This is a direct example of how regulatory harmonisation between two countries has built trust in sharing private intent data for cross-border banking transactions. The second example is the easing of the payment system for transactions.

“On this front, we must commend the banking regulators and central banks that have cooperated well in harmonising the regulations in this space,” he said, adding that today, payment transactions between Asean countries are also much easier as cross-border QR code is accepted.

These examples are significant in that they were facilitated in a highly regulated industry, such as banking.

“Imagine how much more we can achieve region-wide if we were to better harmonise regulatory practices on data-sharing across the board?” he asked.

Tengku Zafrul said regionally, multilateral arrangements to facilitate cross-border data flows include the Regional Comprehensive Economic Partnership (RCEP) provisions on e-commerce and the Asean e-Commerce Agreement.

The e-commerce chapter under the RCEP aims to create a conducive e-commerce environment through the protection of online consumers and online personal data as well as facilitating cross-border data flows.

He said improved coherence in data-related policies will create more trust, and boost e-commerce within the region, as well as between Asean and other international markets.Tengku Zafrul also called for the region to strengthen the implementation of the next level of Good Regulatory Practice (GRP) by building on the foundation that it has developed thus far to achieve unified standards to realize the region’s ambitions as a single market and production base.

He said this is because Asean countries are still in the early stages of developing their regulatory frameworks for sharing public and private intent data.

For that reason, he said policymakers and regulators should incorporate international best practices into their domestic legislative procedures.

“For private intent data, this includes introducing legislation or policy that encourages open data licenses between private firms, promoting the right to data portability for individuals, and access to a machine-readable format of data portability from say, one vendor to another.

“Asean countries should also seriously consider establishing mutual recognition arrangements and/or harmonising their data-related regulations both within and outside the region. This can also be taken up through the upcoming negotiations on the Asean Digital Economy Framework Agreement (DEFA),” he added.

Source: Bernama

Tengku Zafrul: Strong regulations will propel ASEAN digital economy to hit US$1-2 trillion in value by 2030

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Premier Tan Sri Abang Johari Openg today said that Sarawak has the potential to generate 20,000 megawatts (MW) of hydropower if more dams are built.

“Therefore, the potential to export electricity will also be enhanced,” he said in his keynote address at the World Green and Sustainability Summit here.

He said Sarawak Energy Berhad (SEB) currently owns Bakum, Murum and Batang Ai dams and it is currently constructing Baleh dam which is capable of generating 1,285 megawatts of power and will be commissioned by 2027.

He said SEB is already exporting electricity to West Kalimantan, Indonesia and will be exporting to Sabah by 2024.

“We are looking into exporting electricity to Singapore and Brunei as well,” the premier said.

Abang Johari said the state government is in the midst of studying the concept of cascading dams to produce power, similar to Tasmanian and Nordic countries such as Sweden.

The premier also invited investors, environmentalists, and financial institutions to collaborate in transforming Sarawak’s green economic landscape.

He said the shift towards a sustainable economy in Sarawak will undoubtedly demand profound investment and innovative financing solutions.

“We are open to partnerships focusing on the greener supply and value chains across all sectors,” he said.

He added that Sarawak plans to be a regional powerhouse in renewable energy and aims to generate 15 per cent of income from foreign markets through the renewable energy sector.

“To achieve this, we are increasing interconnectivity with other regions through 1,400 kilometres (km) of new transmission line of 500 kilovolts (kV) including 600 kilometres (km) of undersea cable across the South China Sea,” he said.

Source: Malay Mail

Sarawak premier: State can generate 20,000 megawatts of hydropower if more dams built

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The Forest City’s special financial zone (SFZ) status would present a strategic move to boost foreign investment and simultaneously stimulate the economic growth in Iskandar Malaysia.

Iskandar Investment Bhd (IIB) president and chief executive officer Datuk Idzham Mohd Hashim said as a key catalyst and strategic developer within Iskandar Malaysia Flagship Zone B, which includes Medini and EduCity, IIB believed that the SFZ status presented promising investment opportunities and signifies a big boost to spur the economic growth for the entire region.

“The close proximity between Medini and Forest City provides an ideal opportunity in pursuit of our vision to build an inclusive and sustainable metropolis of the future through seamless cooperation, identification of opportunities as well as complementing the proposed establishment of a Johor-Singapore Special Economic Zone,” he said in a statement today.

Idzham said IIB is also committed to work closely with the federal and state governments regarding Johor-Singapore Economic Zone establishment while waiting for more comprehensive details on it.

“Johor has always been a competitive destination for investments and IIB’S developments within the region stand as a testament to this narrative.

“With robust infrastructure, multimodal transportation facilities and strategic positioning that place us a mere 15 minutes away from Forest City and only 20 minutes to Singapore, IIB is well-prepared to leverage the potential opportunities arising from the SFZ too,” he said.

On August 25, Prime Minister Datuk Seri Anwar Ibrahim announced the creation of a special financial zone in Forest City as well as several incentives to boost economic activity in Johor and the surrounding areas. 

Source: Bernama

Iskandar Investment: Forest City’s special financial zone status to boost foreign investments, stimulate economic growth in Iskandar Malaysia

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A hyperscale green data centre testbed and training programme is poised to be established in Sarawak through the collaboration involving clean energy solutions provider Solarvest Holdings Bhd, the Sarawak Foundation’s subsidiary Centre for Technology Excellence Sarawak (Centexs), Huawei Technologies (Malaysia) Sdn Bhd, and GreenBay CES Sdn Bhd.

Solarvest’s subsidiary Solarvest Borneo Sdn Bhd today inked a memorandum of understanding with the other three companies in Beijing, China, towards fostering the hyperscale green data centre industry in the Borneo region.

In a joint statement, Solarvest said the partnership will bring together the parties’ respective skills and areas of specialisation.

The establishment of the hyperscale green data centre testbed and training programme is expected to spur research and development collaborations and intellectual property creation in clean energy solutions, the statement said.

Solarvest Borneo will contribute its expertise in green energy and energy efficiency solutions, and Centexs will provide a dedicated testbed area for practical data centre operations training.

Meanwhile, Huawei Malaysia will leverage on its technological know-how in cloud computing, enterprise intelligence, renewable energy and data centres to support the training needs of the programme.

Complementing these efforts, GreenBay will lend its expertise in constructing future-proofed data centres in a cost-efficient manner, it said.

“Under this collaboration, the four parties aim to promote environmental responsibility by establishing hyperscale data centres that reduce carbon footprint and optimise resource utilisation.

“Ultimately, this initiative aims to enhance the sustainability, reliability and efficiency of data services,” said the statement. 

Source: Bernama

Hyperscale green data centre testbed, training programme to be set up in Sarawak

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Tokyo-based real estate group Mutsui Fudosan Co Ltd will be participating in the Kulim Logistics Hub logistics facility project in Kedah via a joint venture with PKT Logistics Group Sdn Bhd.

In a statement, Mitsui Fudosan said the JV between the two parties, called Kulim Logistics Hub Sdn Bhd, will promote the Tokyo group’s first-ever logistics facility project in Malaysia.

“Malaysia has a highly promising market for Mitsui Fudosan’s logistics business given prospects of mounting demand for logistics facilities going forward, which is due to factors that include ongoing growth in the nation’s population and economy, as well as a high trade volume level comparable to that of Thailand,” said the group in a statement.

It added that it aims to achieve further overseas business expansion by continuing to promote its logistics business in Malaysia going forward.

According to Mitsui Fudosan, the logistics facility project is located along the Butterworth-Kulim Expressway (BKE), which offers convenient access to Penang Port and Penang International Airport.

It is also situated in proximity to Kulim Hi-Tech Park (KHTP), which serves as a hub for electrical and electronic industry factories centered around semiconductors, as well as automotive-related factories.

Source: The Star

Japan’s Mitsui Fudosan to partner PKT Logistics for Kulim logistics facility project

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Malaysia, Indonesia, Brunei and Philippines will form a sub-region focus group to boost existing interconnectivity for green energy sustainability.

Dadan Kusdiana, the secretary-general of the Energy and Mineral Resources of Indonesia Ministry, said the group of countries will embark on renewable energy (RE) cooperation that can be executed immediately. He said collaborations on plant-based biofuels amid Asean’s abundant biomass resource will be proposed.

“We will do things that can be done immediately in the context of increasing sharing in terms of resources. Indonesia and Malaysia already have interconnectivity.

“Later Malaysia will connect with Brunei. We are still looking at Philippines. Southern Philippines is interconnected through North Sulawesi. This benefits North Kalimantan and is also good for Indonesia and Malaysia,” he told a press conference after the joint opening ceremony of the 41st Asean Ministers on Energy Meeting (AMEM-41) and Asean Energy Business Forum (AEBF) 2023.

He noted that the Kalimantan region has vast hydropower plants from both Indonesian and Malaysian companies, while Philippines is one of the world’s top producers of geothermal power.

The region is currently interconnected via the Asean Power Grid (APG) project and the Trans-Asean Gas Pipeline (TAGP).

Dadan said the region needs to develop adequate RE power to achieve strong progress among member countries by delivering their commitment to deliver and address recent dynamics such as climate change, resource scarcity and technology.

Earlier, Indonesia’s Minister of Energy and Mineral Resources Arifin Tasrif, in his opening speech, stressed that to achieve sustainable growth in Asean, the region needs to strengthen interconnection through APG, TAGP, and “other inter-party commitments.”

Therefore, he said AMEM-41 and AEBF 2023 marked the region’s strong commitment to advancing their energy generation, especially in the field of RE.

The Asian Development Bank has estimated energy demand to grow by an average of two per cent annually.

“In the most ambitious scenario in the future, two-thirds of that growing energy demand can be met by RE,” Arifin said.

Asean, he said, has also continued to emphasize its role as the epicentre of growth with a projected 4.6 per cent growth in 2023.

AEBF is an official Asean conference and exhibition on energy that brings high-level regional and international policymakers and key business players, organised in conjunction with the annual AMEM.

Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad is leading the Malaysian delegation to key events there. 

Source: Bernama

Four Asean countries including Malaysia to boost green energy interconnectivity

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The clear details and goals revealed under the second phase of the National Energy Transition Roadmap (NETR) has further affirmed that Malaysia’s power sector is on the right track of sustainability and growth.

Citing emerging opportunities from the blueprint, analysts are optimistic that utility companies in the country will be able to expand and enhance their appeal to investors.

The government on Tuesday unveiled Phase 2 of the NETR, with further details of the renewable-energy (RE) mix targets, energy-efficiency initiatives and hydrogen and carbon capture utilisation and storage (CCUS) development.

It also outlined key investments of some RM1.3 trillion required for the energy transition, along with financing and policy initiatives.

MIDF Research reiterated its “positive” stance on utilities premised on a firm policy layout on the energy transition, which it said, should drive improved growth and the environmental, social and governance or ESG profile for the sector.

“One of the NETR’s potential game changers is the introduction of the grid third-party access, which we reckon could drive the growth of the willing buyer-willing seller power purchase agreements at potentially better returns compared to previous large-scale solar programmes, while a transparent mechanism for wheeling fee calculation will be introduced,” the brokerage wrote in its report.

Similarly, RHB Research has maintained its “overweight” stance on the power sector, noting the Phase 2 of the NETR came with clearer goals and funding requirements for various projects. It expects further concrete framework and mechanisms to be announced in the coming months.

“The successful implementation of the NETR is projected to uplift gross development product value at a compounded annual growth rate of 8.4% from RM25bil in 2023 to RM220bil and generate 310,000 jobs in 2050,” RHB Research noted.

“Apart from the widely mentioned key targets of 70% RE installed capacity, coal free by 2050, we saw targets involving CCUS, hydrogen and bioenergy.

“Furthermore, these targets are being further broken down into several milestones by 2030 and 2040, coupled with potential investment opportunities at different phases,” it added.

RHB Research expects local solar engineering, procurement, construction and commissioning (EPCC) contractors such as Solarvest Holdings Bhd, Samaiden Group Bhd, Sunview Group Bhd and Pekat Group Bhd as direct beneficiaries of such a structural uplift.

It added that Reservoir Link Energy Bhd, a sub-contractor and mounting structure provider, would also benefit from higher job flows given the aggressive expansion in domestic RE capacity.

RHB Research pointed out that existing power producers such as Tenaga Nasional Bhd (TNB) and Malakoff Corp Bhd were likely to see new gas plant expansion in the future following their retirement of existing coal plants.

Meanwhile, MIDF Research expects YTL Power International Bhd to be an immediate prime beneficiary of potential RE exports to Singapore, having an advantage of existing generation and retail operations in the city state.

It said EPCC sub-sector players, namely, Samaiden, Sunview and Pekat, would be key beneficiaries of the corporate green power programme, or CGPT, project rollout, while TNB would be a key beneficiary in the asset-ownership space from both RE capacity expansion and grid upgrade investments.

Source: The Star

NETR enhances sector appeal to investors

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Datuk Patinggi Tan Sri Abang Johari Tun Openg is expected to share how Sarawak is attracting green investments to the state at the World Green & Sustainability Summit (WGSS) 2023 here on Sept 4.

The Sarawak Premier, who will be delivering a keynote address at the summit which will be held at UCSI Hotel, is also expected to touch on how the state has positioned itself as a new economic and renewable energy powerhouse.

The inaugural WGSS, themed ‘Building a Better Future Through Green Growth’, is poised to unite visionaries, experts and leaders across sectors to forge innovative pathways towards global sustainability.

KSI Strategic Institute for Asia Pacific (KSI), a leading independent global think tank, has joined forces with the Global Compact Network Malaysia & Brunei, World Green Organisation, World Business Chamber, Asean Economic Club, and World Digital Chamber to orchestrate WGSS.

It said in a news release that the summit is fitting and relevant in the aftermath of an ominous climatic milestone, highlighted by the hottest temperatures recorded across continents in July.

“With global warming casting an alarming shadow over people and the earth, the urgency to solve climate change has never been greater.

“This WGSS is an excellent opportunity to respond to the overwhelming need for immediate and coordinated global climate action, echoing the call of United Nations secretary-general Antonio Guterres.

“At its core, the summit aims to galvanise businesses, including small and medium enterprises, to support and embrace the circular economy and scale up Environmental, Social and Governance (ESG) goals,” it said.

KSI president Tan Sri Michael Yeoh said the institute is fully committed to the 4Ps – People, Planet, Prosperity, and Partnership – to ensure sustainable growth.

“We urge businesses and civil society organisations to focus on and emphasise the 4Ps in their programmes and business models,” he said.

Yeoh, who is also WGSS organising chairman, noted that corporations, business leaders and civil society organisations need to work together in partnership to achieve the UN 17 Sustainable Development Goals (SDG).

As the organiser of the summit, KSI is fully committed to the UNSDG by signing the UN Global Compact Pledge and the UN Economic and Social Commission for Asia (ESCAP).

Yeoh representing KSI is the only Malaysian on the 15-member Executive Council of the UN ESCAP Sustainable Business Network (ESBN) appointed Asia-Pacific Green Deal for Business by ESCAP.

Other distinguished speakers at WGSS include UN under-secretary-general and ESCAP executive secretary Armida Salsiah Alisjahbana, Sarawak Deputy Premier Dato Sri Dr Sim Kui Hian, Sarawak Deputy Minister of Energy and Environmental Sustainability Dr Hazland Abang Hipni, Singapore’s City Developments Limited chief sustainability officer Esther An, Thailand’s Asean Studies Centre of Chulalongkorn University executive director Prof Suthiphand Chirathivat, and UN ESCAP chief investment and enterprise development Tientip Subhanij, amongst others.

The summit will feature an array of thought-provoking sessions, including the Leadership Panel: Greening the World, where prominent leaders from around the globe will discuss strategies for fostering sustainability on a global scale.

Sessions such as Green Energy, Green Technology – New Challenges, New Breakthrough and New Opportunities in Energy Transition – Renewable and Hydrogen Energy, and Green Cities and Green Mobility – Advancing Sustainable Cities, Mobile Communities, Green Properties, and Green Infrastructure will tackle vital topics in energy transition and urban development, providing fresh perspectives on emerging challenges and opportunities.

The summit will also showcase exemplary practices and achievements in the ‘Scaling Up ESGs’ session, demonstrating how businesses and organisations are incorporating ESG principles into their core operations.

Towards this end, KSI will initiate a Next Generation Green Network, to be coordinated by KSI’s director of External Relations Zaim Mohzani. The aim is to mobilise stronger youth support for the green transition.

The summit will also confer World Sustainability Excellence Awards, the World Sustainability Leadership Awards, and the World ESG Awards to several recipients, recognising their outstanding contributions in the field of sustainability.

Source: Borneo Post

WGSS 2023: Premier to share how Sarawak attracts green investments

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Denmark’s Demant, a hearing healthcare and audio technology group listed on Nasdaq Copenhagen, has opened its first technology hub outside of Europe in Kuala Lumpur to serve the US$22 billion global market.

The company stated that this move is part of its growth strategy and aims to capture a larger share of the hearing healthcare market.

Demant’s chief information officer Christian Pedersen said the opening of Demant’s technology hub in KL solidifies our commitment to create life-changing hearing health. 

“We are pleased to leverage Kuala Lumpur’s outstanding pool of talent, strategic location, diversity, the forward-thinking government support, and commitment to accelerate the digital economy, to develop Demant’s innovative solutions.

“Kuala Lumpur will be our biggest diagnostics hub outside Europe, housing 65 per cent of our global team of engineers and specialists who will take the lead in developing software solutions incorporating the latest technologies including artificial technology (AI),” he said in a statement today.

Demant has two other research and development (R&D) centres in Europe, one in Copenhagen and another in Warsaw, Poland. 

In 2022, the company invested 1.3 billion DKK (RM880 million) in R&D. The Kuala Lumpur technology hub will serve markets worldwide with a focus on Asia, especially North Asia. 

In the first half of 2023, Demant’s Asia business, driven by significant growth in China, outperformed all other markets with a 34 per cent growth.

Demand for hearing healthcare across Asia is expected to remain robust with the increase of the elderly population Pedersen said according to the World Health Organisation (WHO), hearing loss has the biggest impact on elders, with one in four people over 60 years old affected.  “Untreated hearing loss can lead to mental fatigue, social isolation, and withdrawal. That may lead to depression and cognitive decline, which can precede dementia. 

“Kuala Lumpur enables us to develop and deploy cutting-edge hearing technologies to assist those who need our services the most,” he said. He added concurrently, the company will develop Kuala Lumpur into Demant’s IT hub to serve its offices across 30 countries. 

“Our IT specialists will provide support in the areas of critical infrastructure, application support, cybersecurity, and cloud technology,” he noted.

Demant plans to recruit 200 engineers and specialists by 2024 and increase the number of highly skilled employees by 50 per cent by 2026. 

The Kuala Lumpur hub would be headed by its general manager Christian Daugbjerg.

Source: NST

Denmarks’ Demant opens first technology hub outside of Europe in KL

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Malaysia’s progress will significantly depend on alternative energy sources as well as robust regional and international collaboration, said Prime Minister Datuk Seri Anwar Ibrahim.

As such, RM2bil has been set aside as seed fund for the National Energy Transition Facility, he added.

In his speech when launching the National Energy Transition Roadmap (NETR) Phase 2, Anwar said the allocation is important given the state of Malaysia’s young decarbonisation technologies.

The Prime Minister underlined the importance of alternative energy sources as well as robust regional and international collaboration in determining the country’s progress.

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

“Within this decade alone, the government requires between RM60bil and RM90bil to be allocated for crucial projects, among them the expansion of public transportation, strengthening of grid infrastructure and reskilling of human capital,” he said at the Kuala Lumpur Convention Centre here yesterday.

Anwar said the facility will enable catalytic blended finance to ensure a seamless flow of financial resources towards energy transition projects that are marginally bankable or yielding below-market returns.

“For example, investment in the EV (electric vehicle) value chain, hydrogen and carbon capture, utilisation and storage (CCUS) technologies.”

To ensure holistic energy planning and policy development, Anwar said the National Energy Council will be activated to monitor the progress of the NETR.

In May, the government set out a target to achieve 70% renewable energy installed capacity by 2050 and lifted the ban on cross-border trade in renewable energy.

Anwar said a renewable energy exchange will be established and launched next year to act as a market aggregator that will enable price discovery aside from monetising excess power.

“The world has long been dependent on carbon-based fuels to produce energy. As we continued to power up our economy with fossil fuels, generating vibrant growth and expansion, so did carbon emissions, which grew at an exponential rate, adversely impacting our environment and triggering a global climate crisis.

“Do we have the solutions and technologies to resolve the issue? Could raising the use of sustainable and clean energy sources in the total energy mix be the definitive answer?

“For Malaysia, while we have a vibrant oil and gas industry, the country recognises the importance of renewable energy (RE) sources,” Anwar added.

In the early 1990s, RE was named the fifth fuel under the National Energy Policy. Today, the RE sources are solar, mini hydro, biomass and biogas.

The Prime Minister said Malaysia’s RE supply is now at 25%, adding that the country is on the right track to source 31% of its power capacity from renewables by 2025 and 40% by 2040.

Noting that electricity and heat generation by burning fossil fuels such as coal, oil or gas emits a huge amount of greenhouse gases, Anwar said the energy sector has been identified as the largest greenhouse gas emitter, which contributes to climate change.

“There are vast opportunities that will come with clean energy transitions across the supply chain, from manufacturers of solar panels, EV charging facilities and battery energy storage to a host of other technologies.

“All of these developments provide impetus for us to restructure our economy while boosting investment opportunities in green growth.

“The NETR will provide policy clarity in shaping Malaysia as a leader in energy transition among Asian economies,” he said.

Source: The Star

Alternative energy, the way forward

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Malaysia sees as much as RM6 billion worth of investments from now to 2040 to improve energy efficiency, as it aims to achieve an average of 21% energy savings by 2040 under the National Energy Transition Roadmap (NETR).

This is on top of the RM7 billion targeted to retrofit government buildings to be more energy efficient by the same timeline, according to the NETR Phase Two report.

Investments for both smart devices installation and government building retrofit are targeted at RM2 billion each as at 2030, the report said.

By 2040, the energy savings target is set at 15% for the residential sector, as opposed to 22% for the commercial and industrial (C&I) sector.

“The targets mark a significant leap from the goals previously declared in the National Energy Policy 2022-2040 at 10% for residential and 11% for C&I by 2040,” the report said.

Energy efficiency — using less energy for more productivity — is one of the key components in Malaysia’s energy transition agenda, to provide headroom for the power generation segment to pivot from its current dependence on fossil fuel plants to renewable energy.

The government previously announced plans to table the Energy Efficiency and Conservation Act in the Parliament by the end of this year.

Major retrofit for government buildings to enhance energy efficiency

In the NETR, among the levers identified in relation with energy efficiency are mandatory audits for larger C&I buildings, establishment of green building codes for energy-intensive buildings, and the major energy efficiency retrofit initiative among government buildings.

Prime Minister Datuk Seri Anwar Ibrahim, when launching the NETR, said the “major retrofit programme” for government buildings will see the development of an energy service companies (ESCO) platform to connect small and medium enterprise ESCOs with government projects.

Source: The Edge Malaysia

Malaysia to invest RM13b by 2040 to improve energy efficiency

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The National Energy Transition Roadmap (NETR) was driven by an underlying sense of urgency to demonstrate the country’s resolve towards its net-zero target or it may risk getting overlooked by foreign investors, says Economy Minister Rafizi Ramli.

“The whole idea behind the NETR was because of my trip to Japan for the launch of the Asia Zero Emission Community.

“While I was there, I could feel how Malaysia was bypassed by everyone there. While they acknowledged that our country has potential, they still preferred other countries, as there were no significant developments in Malaysia.

“Matters related to environmental, social and governance, climate change and green compliance are extremely important to investors all over the world.

“If investors from New York, Japan or London are not confident of our resolve towards achieving the net-zero target we set forth, and at the same time we do not demonstrate a comprehensive plan, they will bypass us and they have bypassed us,” he said during the Energy Transition Conference yesterday.

As such, Rafizi said the NETR is a validation of the present administration’s approach and that it is important to pitch the right sector with the right determination to get the early conviction of the international communities.

“It is a competitive market, where investors have to decide where to put their money. Unless we jump to be noticed, we will be bypassed. I think the validation we have in the last few months is in which we pull our efforts together.

“It takes a one nation approach to provide clarity in terms of a robust policy framework. When we put our initial money where our mouth is, then we will see more funds and investments coming into Malaysia,” he said.

Rafizi also did not rule out the role for nuclear in the energy mix for the country’s energy transition target. However, he added for now such plans will not be rolled out within the next five years.

“I think it will happen in due time. Of course we look at the planning and the numbers as we go along, but typically, any major pivots especially on something like nuclear is something that we have to bring throughout the whole government,” he said.

Rafizi noted that in managing the energy trilemma – security, sustainability and affordability – the government does not have the leisure to rule out anything.

On this note, Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad said it was unfortunate many good research institutions with regards to nuclear in the country have closed down.

“Because if we know anything about nuclear, the moment you say ‘yes’, it will take many, many years for it to come to fruition and you need that expertise and skill set.

“While it is not a green light on nuclear energy, we are considering it because it has zero carbon emissions.

“Obviously, there are security and safety concerns from the public and we totally accept that. However, with changing technologies like the small modular reactor, it is something that we cannot rule out totally,” he said.

Divided into two parts, part one of the NETR was launched in July and outlined 10 flagship catalyst projects and impact initiatives based on six energy transition levers, namely, energy efficiency, renewable energy, hydrogen, bioenergy, green mobility, and carbon capture, utilisation and storage or CCUS.

Five enablers – financing and investment, policy and regulation, human capital and just transition, technology and infrastructure as well as governance and implementation – further support the six levers.

Part two, which was unveiled by Prime Minister Datuk Seri Anwar Ibrahim yesterday, focuses on establishing the energy mix, GHG emissions reduction pathway, along with selected targets and initiatives.

In order to develop the talent, technology and infrastructure needed to scale-up and sustain decarbonisation efforts, targeted investments, people strategies and international cooperation planning as well as policy and regulatory frameworks, will be bolstered.

Anwar also announced that the government will allocate RM2bil as seed fund for NETR to enable catalytic blended finance.

He said this in turn will ensure a seamless flow of financial resources towards energy transition projects that are marginally bankable or yielding below-market returns.

“Considering Malaysia’s current state of immature decarbonisation technologies, our progress will significantly hinge on alternative energy sources and robust regional and international collaboration.

Rafizi said the strategy set forth in the NETR does not come from an imagined ideal state of the world or what leading countries are doing but it is a realistic view of Malaysia’s strengths, and a pragmatic view of what needs to be done to grow.

“The first step was to set stretched targets so that the slight discomfort could drive creativity and innovation in reaching them. By 2050, we are stretching the RE installed capacity target to 70%, energy efficiency savings target to 22%, and electric vehicle penetration to 80%,” he said.

Rafizi said despite stretching these targets, which he admits have become very ambitious goals, there are still some gaps in regards to the country’s net zero commitment.

“We still have some gaps to close, at least on paper. But targets are targets. We can have very nice targets on paper, but without building the capability and getting the ball rolling, the gaps will get bigger and bigger as we move on. I hope the industry, the society and our international partners appreciate that it does take a lot of guts for this administration to admit that we still have some gaps for our net zero commitment.

“If we were to lead regionally and we build the reputation, investments will come, capabilities will come and that will allow us to close the gaps as we move towards 2050. To sit on our laurels and expect plan after plan to close the gaps, but never get started, is a sure way for us to miss our 2050 net zero commitment,” he said.

Rafizi said the government’s focus in the next five years is on building the necessary capacity to realise the targets iof NETR, by aligning the mid- and short-term action on the ground not just in terms of energy policy, but with all the other macro policies.

“Those are usually the more difficult ones: in terms of how we look at subsidies, how we align growth in different areas of the countries, and the upskilling of the nation states.

“We will make sure the governance is done properly, and NETR projects, for example, the 10 catalytic projects, will proceed as planned and will be monitored at the National Energy Council. We will switch to project management mode for the next five to 10 years to meet all those objectives,” he said.

NETR is expected to uplift the gross domestic product by 10% to 15% from market-creating products that are high-growth and high-value (HGHV). Some 350,000 jobs are also expected to be created in the HGHV sectors across the country and, 70% of the income gains will flow to low- and medium-income households.

“In order to realise these economic gains for the country, there are three critical structures that will become the bedrock to the NETR ambitions. We need strong governance, substantial financing, and a credible and transparent exchange system. These cornerstone structures carry with them critical multipliers that could accelerate growth,” Rafizi said.

Source: The Star

NETR crucial to attract investments

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The Perak State Development Corporation (PKNPk) and TNB Power Generation Sdn Bhd (TNB Genco) are exploring the potential development of a Floating Solar Photovoltaic (FSPV) project across hydroelectric dams and reservoirs in Perak.

The parties have inked a Memorandum of Understanding (MoU) for the purpose of exploring FSPV development within Tenaga Nasional Bhd’s (TNB) areas of operation to pave the way for the state to foster environmental progress, aligned with the Perak Sejahtera 2030 plan.

In a statement today, Perak Menteri Besar Datuk Seri Saarani Mohamad said the state is committed to the National Energy Transition Plan (NETR), which aims to achieve a 70 per cent renewable energy (RE) capacity by 2050.

“This supports the NETR plan’s Flagship — New Energy Zone, spearheaded by TNB, for the development of floating solar with a potential total capacity of 2,500 megawatts on TNB’s hydro dams, serving electricity generation and energy storage,” he said.


The collaboration focuses on key aspects such as exploring solar power at Sg Perak Dam to tap into RE sources.

PKNPk chief executive Datuk Redza Rafiq said TNB Genco and the state agency will conduct a feasibility study within the stipulated timeframe as a precursor to the project.

“Given the substantial investment required, critical aspects must be identified, and collaboration with relevant state and federal government agencies is essential,” he said.

Source: Bernama

Perak Development Corp, TNB Genco explores collaboration on floating solar PV

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Prime Minister Datuk Seri Anwar Ibrahim today unveiled Phase Two of the National Energy Transition Roadmap (NETR), which spells out the remaining initiatives to transform Malaysia into a regional leader in the energy transition and renewable energy (RE) industry.

Anwar, also the Finance Minister, said the government had identified six energy transition levers, 10 flagship projects and 50 initiatives under the complete series of NETR.

The initiatives, among others, will see the government setting aside RM2 billion as a seed fund for the National Energy Transition Facility.

“This facility will enable catalytic blended finance to ensure a seamless flow of financial resources towards energy transition projects that are marginally bankable or yielding below-market returns.

“For example, investment in electric vehicle (EV) value chain, hydrogen as well as carbon capture, utilisation and storage (CCUS) technologies,” said Anwar in his speech at the launching ceremony of Phase Two of the NETR here today.

Present were Economy Minister Rafizi Ramli and Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.

Anwar added that the allocation was vital due to the present state of the country’s decarbonisation technologies, which he said were still at an “immature” level.

The progress of the country’s development, he said, hinged on alternative energy sources as well as robust regional and international collaboration.

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

“Within this decade alone, the government requires between RM60 billion and RM90 billion to be allocated for crucial projects, among others, expansion of public transportation, strengthening grid infrastructure and reskilling human capital,” he said.

Anwar also announced setting up a renewable energy exchange, scheduled to be launched next year, would act as a market aggregator enabling price discovery and monetising excess power.

“Energy efficiency as one of the energy transition levers offers effective long-term solutions to manage our energy consumption, thus reducing carbon emissions.

“The government will launch a major retrofit programme to enhance

energy efficiency in government buildings. In this regard, an energy service companies (ESCOs) platform will be established to connect private ESCOs, mainly SMEs, 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.

To ensure holistic energy planning and policy development as well as to monitor the progress of the NETR, Anwar said the government would activate the National Energy Council for such purposes.

“I personally see to it that the council functions as mandated,” he said.

Anwar said the NETR would accelerate and navigate the nation’s energy transition measures on a larger scale, thus ensuring success in shifting from a traditional fossil fuel-based economy to a high-value, green and sustainable economy.

“The primary goal is to change how energy is generated in Malaysia by accelerating the energy transition.

“This can resolve the climate change crisis. With the implementation of initiatives under the NETR, Malaysia is set to be at the forefront of becoming a regional leader in the energy transition and RE industry,” he said.

Anwar said Malaysia recognised the importance of RE sources.

In the early 1990s, he said RE was named the fifth fuel under the National Energy Policy.

“Today, the RE sources are solar, mini hydro, biomass and biogas. The RE supply in Malaysia is now at 25 per cent, and we are on the right track to source 31 per cent of its power capacity from renewables by 2025 and 40 per cent by 2040.

“The NETR details how we will achieve these objectives,” he said.

Whilst Malaysia’s move to embrace sustainability has been gaining momentum, Anwar nevertheless said emphasis should also be given to ensuring that the country can provide affordable energy and energy security.

“We are optimistic that the NETR will succeed in the balancing act. NETR will drive the creation of high-paying job opportunities and boost domestic and foreign investment participation while ensuring the continuity of Malaysia’s green energy supply,” he said.

Earlier in his speech, Nik Nazmi described NETR as Malaysia’s overarching macro policy document covering the country’s energy transition pathway for the power, transportation, manufacturing and oil and gas sectors.

Source: NST

RM2 billion seed fund allocated for National Energy Transition Facility: PM Anwar

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Trina Solar, a global photovoltaic (PV) and smart energy total solutions provider, sees Malaysia’s robust policies to encourage the adoption of solar energy to spur the industry’s growth on a local and regional level.

Head of Southeast Asian Elva Wang said Malaysia’s commitment to achieve carbon-neutral status by 2050 has resulted in the growing need for renewable energy sources, where there is an increased demand for solar energy, especially from the environmental, social and governance (ESG)-focused local and multi-national companies operating in Malaysia.

“Malaysia’s renewable industry has witnessed an enormous growth in the past decade and solar PV plays a significant role in the energy transition,” she told Bernama today.

She said there has been strong demand for rooftop solar in Malaysia as households and businesses try to mitigate rising electricity prices.

“With rising electricity consumption and costs, pro-solar policies are being met with open arms by consumers and businesses alike,” she said.

Wang said according to research, the adoption of solar energy in Malaysia as of August 2023 has surpassed the full-year total of 2022 by five per cent.

She said the key drivers contributing to this growth included the falling cost of solar installations, improved financing options, government policy of Net Energy Metering (NEM) programme, and above all, a heightened awareness of the environmental benefits of solar energy.

“Electricity will continue to dominate energy consumption. It is estimated that by 2050, primary energy supply in Malaysia is expected to increase by 60 per cent over that of 2018 while the country’s population is projected to rise to more than 40 million people,” she said.

Wang said in tandem with the rising consumer demand, Trina Solar has been expanding its offerings to be a “total solutions provider”, including soon-to-be launched n-type modules in Malaysia powered by i-TOPCon Ultra technology.

“We have already begun our mass production of Vertex N 700W+ series modules with module efficiency reaching 22.5 per cent in August,” she said.

She said by the end of this year, the company envisioned to reach a cell capacity of 75 gigawatts (GW), including 40GW of n-type cells, all equipped with its latest n-type i-TOPCon Advanced technology.

“In the long run, our key focus will be the introduction of Trina Solar’s Elementa Battery Energy Storage Solution to meet the local demands, especially in the residential and commercial and industrial (C&I) sector,” she said.

Meanwhile, Wang said an agreement signed between Trina Solar and GSPARX Sdn Bhd, a wholly-owned subsidiary of Tenaga Nasional Bhd (TNB), on Monday to work together in developing a robust sustainable energy sector in Malaysia further strengthened and expanded the relationship between the two companies on a strategic and working level.

“We are focusing on securing business opportunities for rooftop, floating and grounded-mounted systems for our mutual benefit and helping Malaysia move towards a green net-zero future,” she said.

She said under the MoU, Trina Solar would share its international knowledge and technical expertise with GSPARX with regard to, among others, smart grid solutions and energy storage systems.

“This co-operation will enable GSPARX to strengthen its technical in-house capabilities and help, for example, navigate technical challenges in solar rooftop projects,” she added.

Through the MoU, Trina Solar and GSPARX agree to establish a working committee that will help drive sustainability initiatives and promote the adoption of renewable energy in the country.

Additionally, the parties agree to do joint marketing and work collaboratively to explore and unlock new business opportunities, so as to develop Malaysia’s solar photovoltaic market.

Source: Bernama

Trina Solar sees Malaysia’s robust policies in solar energy to spur industry growth

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Malaysia’s upcoming Hydrogen Economy and Technology Roadmap will underline ways for the nation to attract investments for the production of this new commodity in order to become a main green hydrogen export hub by 2027.

“It would be remiss” not to mention green hydrogen’s potential as a fuel alternative, said Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad.

“The federal government, in collaboration with state governments and utilities like TNB (Tenaga Nasional Bhd), is excited to explore the prospect of harnessing a new energy carrier and the knock-on economic effects it would bring,” Nik Nazmi said.

“We aim to unlock the hydrogen economy through the NETR (National Energy Transition Roadmap) and the Hydrogen Economy and Technology Roadmap (HETR), which is targeted to be rolled out later this year,” the minister said when launching The Energy Transition Conference 2023 here on Monday (Aug 28).

Malaysia, a key producer of natural gas, has been exploring hydrogen as a new resource in light of rising demand for green energy. This is in light of its gas-like nature, which means it can be stored and transported, unlike other existing raw RE such as solar, hydro and wind.

While hydrogen itself does not emit carbon when consumed as a fuel source, production of the molecules using green energy has been very expensive — said to cost at least US$250 (RM1,164) per barrel of oil equivalent, as opposed to the selling price of crude oil of about US$70-per-barrel range at present.

Proponents of hydrogen include national oil and gas company Petronas as well as the Sarawak state government, which intends to utilise its vast hydro electricity generation capacity to support green hydrogen production. The state has also tested its first hydrogen-powered autonomous rapid transit tram this month.

National utility outfit TNB is also looking at hydrogen, in a bid to explore hydrogen-fired gas plants.

Malaysia is among the world’s largest producers of natural gas, which fuels almost half of domestic electricity consumption. It is also a key exporter to countries like Japan, which said in June it wanted to generate US$107 billion in investments for hydrogen supply in the next 15 years to speed up its own decarbonisation journey.

Malaysia’s launch of the hydrogen roadmap will come on the heels of NETR, whose second phase is set to be launched on Tuesday (Aug 29) and represents one of its new government’s key economic transformation agenda that seeks to turn Malaysia’s need to transition to renewables into a growth opportunity — considering the nation’s RE potential and position within Asean — to support the Asean grid and its rising demand for green energy.

Source: The Edge Malaysia

Malaysia to launch hydrogen roadmap this year as it seeks hydrogen investments

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The government has decided to allow the cross-border renewable energy (RE) trade to help spur the development of the RE industry alongside the region.

Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad said the cross-border trade of RE is part of a two pronged-strategy for the country to capitalise and explore new higher-value RE demand in neighbouring countries.

“This will enable us to offer and enjoy greater grid flexibility with higher RE integration under the Asean Power Grid or APG initiative.

“Certainly, the APG is a goal worth pursuing. As a multilateral undertaking, its achievement would result in a totally integrated South-East Asian power grid,” Nik Nazmi said at the opening of the Energy Transition Conference 2023 organised by Tenaga Nasional Bhd (TNB) here yesterday.

“It would promote interconnectivity across the 10 Asean member countries with our combined population of more than 670 million, allowing for cross-border electricity trade across the region,” he added.

Nik Nazmi said the government had invited energy players, especially TNB, to continue and facilitate the discovery of new and renewable sources of energy across the nation and its borders.

“Cross-border RE trading will be part of Malaysia’s contribution to the creation of the APG and, one would argue, towards strengthening Asean integration as a whole,” he said.

He had said the country could be a hub for RE exports since it is geographically located in the centre of Asean.

The government had lifted the ban on the export of RE in May which will allow the trading of excess RE with neighbouring countries.

“Asean is an integral part of Malaysia’s future, and hence, it is crucial for us to achieve a just and comprehensive energy transition as an interconnected region, with the APG as a key component of this,” he said.

“The realisation of an integrated regional grid with high shares of RE hinges on providing a smart, flexible and robust grid system and infrastructure,” he added.

He also urged TNB to continue on its effort in modernising and digitalising the national grid by drawing on its extensive experience in grid development and management.

On another note, he said the government would explore developing green hydrogen as a fuel alternative.

The initiative to develop the hydrogen economy would be driven by the National Energy Transition Roadmap and the Hydrogen Economy and Technology Roadmap, which is targeted for rollout later this year.

“This includes how we can attract investments towards its production and ultimately pave the way for Malaysia to become a main export hub for green hydrogen by 2027.“The federal government, in collaboration with state governments and utilities like TNB, is excited to explore the prospects of harnessing a new energy carrier and the knock-on economic effects it would bring,” he added.

Green hydrogen is derived from water electrolysis using RE or a low-carbon power source.

The splitting of water molecule produces hydrogen which can be used as a clean power source and oxygen as a byproduct.

The government will soon table the Energy Efficiency and Conservation Act (EECA) in the upcoming parliamentary sitting, according to Nik Nazmi.

“The EECA bill has been in the works for many years, and we hope that it will catalyse commercial competitiveness while encouraging environmental stewardship for residential and industrial consumers.“It will require the biggest users of electricity to do energy audits and more requirements of a building of a certain size to do such energy (efficiency) audits. But for residential consumers they will not be required to do so,” Nik said on the sidelines of the conference.

He pointed out that the overall energy transition of the country should be looked at from a wholesome manner and not only from the number of electric vehicle (EV) sales.

“It should also take into account public transport, personal mobility vehicles and logistics.

“Intrinsically linked to the concept of smart cities is green mobility. The government has committed to developing the EV industry strategically. We are also examining the existing procedures for approving EV charging systems to reduce the time in processing the installation approval.

“The EV market is forecast to grow exponentially over this decade, and this presents us with a timely opportunity to capitalise on a high-value, green economic sector,” he said.

Under the Low Carbon Mobility Blueprint 2021 to 2030, the government is on track to achieve its target of 10,000 public charging stations in the country by 2025 and some 1.5 million EVs by 2040.

Meanwhile, TNB chairman Datuk Abdul Razak Abdul Majid said that the global energy system transition is well underway but the path is not without its challenges.

“While we strive towards balancing the energy trilemma of security, sustainability and affordability, there is another missing component that looks at equity and inclusiveness of our transition – ensuring that no one is left behind,” he said at the conference.

Abdul Razak also pointed out that TNB’s strategy to support the country’s net-zero aspirations through three strategic areas included concerted planning on generation decarbonisation, enabling a flexible RE, cross-border grid exchanges and empowering cross-sectorial electrification.

Meanwhile, CEO of the Sustainable Energy Development Authority, Malaysia Datuk Hamzah Hussin said potential reforms in the electricity market to enable greater competition, transparency and flexibility would benefit the industry as a whole.

“This includes the unbundling of generation, transmission and distribution segments of the market that allows for more independent power producers and retail suppliers,” Hamzah said at the dialogue session entitled Forward-thinking policies and regulations that shape the energy transition.

“The market reforms should also ensure that RE sources be given priority access and dispatch to the grid.

“Grid operators should also be adequately compensated for their services. The reforms should also promote consumer choice and empowerment by allowing consumers to switch suppliers, install rooftop solar panels or other distributed generation systems or take part in demand-response programmes or peer-to-peer trading platforms,” he added.

He also noted that consumers should have access to real-time information on electricity consumption and prices.

“By reforming the market, the government can increase the efficiency and reliability of electricity systems – and lower the costs of electricity for consumers and producers,” he added.

Source: The Star

Cross-border RE trade a regional catalyst

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Solarvest Holdings Bhd has secured a contract to instal a 14-megawatt peak (MWp) rooftop solar photovoltaic (PV) system at Toyo Tyre Malaysia Sdn Bhd’s (TTM) tyre manufacturing plant in Kamunting, Perak, the largest of its kind in the area.

Clean energy expert, Solarvest will undertake the engineering, procurement, construction, and commission works for the installation of the solar PV system at TTM’s main buildings/facilities covering a rooftop area of 96,000 square metres.

The expected generation of 14 MWp of clean energy allows TTM to offset 12,195 tonnes of carbon dioxide annually through its RE100 initiatives.

Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Wira Arham Abdul Rahman highlighted TTM’s strong dedication to maintaining sustainable operations.

“As the world transitions to a low-carbon future and a greener economy, MIDA is taking steps to help businesses overcome the challenges and capture the opportunities of the green transition.

“We applaud TTM’s RE100 initiatives, which underscore its firm commitment to environmental, social, and governance principles within their corporate framework,” he said in a joint statement by MIDA and Solarvest today.

Meanwhile, Solarvest executive director and group chief executive officer Davis Chong Chun Shiong said the company is confident in its ability to assist TTM in achieving optimal energy efficiency for the plant while ensuring timely project completion.

“There is a growing interest in clean energy adoption, especially among commercial and industrial (C&I) players as corporate sustainability initiatives gain momentum and in anticipation of carbon pricing mechanisms.

“Our job pipeline remains strong with a tender book of approximately 2.2 gigawatts, comprising large-scale power plants, C&I, and overseas projects.

As a decarbonisation partner, Solarvest is committed to promoting energy transition through efficient renewable energy solutions and innovative green technologies,” he added.

The RE100 is the global corporate renewable energy initiative bringing together hundreds of large and ambitious businesses committed to 100 per cent renewable electricity.

Source: Bernama

Solarvest to instal rooftop solar PV system for Toyo Tyre’s Kamunting plant

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The government will announce on Tuesday (Aug 29) the extension of the first phase of the National Energy Transition Roadmap (NETR), known as Phase 2, which will focus on biomass, waste-to-energy usage, carbon capture and storage (CCS), and hydrogen integration, among others.

Energy Commission chief executive officer Datuk Abdul Razib Dawood said the roadmap will be “more than policy” covering across sectors, with discussion on “more actionable items” after the first phase announced in July 27.

“In the second phase of the NETR, we will discuss more actionable items on how to reach the 2050 targets,” he said at the dialogue session on “Forward-thinking Policies and Regulations that Shape the Energy Transition” at the the Energy Transition Conference 2023 on Monday.

He highlighted that the primary challenge in energy transition is to increase the renewable energy (RE) capacity, pointing out that solar projects are currently the only viable option in Malaysia, while other forms of RE are still in their early stages of development.

“We need at least 2.5 gigawatts RE installation per year to achieve 70% of RE in the power mix by 2050. But, first the grid has to be ready to take on these RE projects,” Abdul Razib said.

On CCS and hydrogen, he said that while it is still nascent, it is essential to get the infrastructure ready.

“We have to start somewhere you know, maybe we need a government funding system to begin with. But of course, we aspire to be a hub (hydrogen) for this region.

“And of course, the last is CCS, which Petronas has already started to embark on, but it is still at the nascent stage and also expensive. But, we need to be ready,” he said.

Nonetheless, Abdul Razib stressed that it is important for the country to strike a balance of creating high value jobs in its RE journey.

Phase 1 of the NETR saw six key energy transition levers announced: energy efficiency, RE, hydrogen, bioenergy, green mobility, and carbon capture, utilisation and storage.

Phase 1 of the NETR, which was announced on July 27, saw 10 flagship “catalyst projects and initiatives” introduced which, according to Economy Minister Mohd Rafizi Ramli, could open up energy transition investment opportunities of RM435 billion to RM1.85 trillion by 2050.

Rafizi said for Phase 1 of the NETR, total committed investments stood at RM25 billion, estimated to create 23,000 high-impact, high-quality jobs, and reduce 10,000 gigagrams of carbon dioxide equivalent annually.

Source: The Edge Malaysia

Phase two of NETR to focus on biomass, waste-to-energy, carbon capture

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The government is eager to explore the potential of green hydrogen as a fuel alternative towards the nation’s green mobility agenda.

National Resources, Environment and Climate Change minister (NRECC), Nik Nazmi Nik Ahmad said the government, in collaboration with utilities like Tenaga Nasional Berhad (TNB), will explore the prospect of harnessing the new energy carrier and its economic effects.

“We aim to unlock the hydrogen economy through the National Energy Transition Roadmap (NETR) and the Hydrogen Economy and Technology Roadmap (HETR) that are targeted to be rolled out later this year.

“This includes how we can attract investments towards its production and ultimately pave the way for Malaysia to become a main export hub for green hydrogen by 2027. Increasingly, we are seeing the value in cooperation to drive the transition domestically, regionally and internationally,” he said in his opening remarks at the Energy Transition Conference launching ceremony, here today.

Moreover, he said the energy transition and climate change action requires the involvement and contribution of various sectors to ensure that humanity continues to thrive.

“We also hope that the businesses and civil society will continue to put sustainability at the forefront of their work,” he said.

On the Energy Efficiency and Conservation Act (EECA) that will be tabled at the upcoming Parliament sitting, Nik Nazmi said heavy electricity consumers will be required to conduct an energy audit and a higher requirement will be given for buildings of a certain size.

“And as a result of our tariff reform, we already see some of them already took their own initiative because now they (heavy electricity consumers) have to pay a higher bill. So they already took their measures to store more solar energy and practice energy efficiencies,” he said.

Touching on the development of the policy framework for rare earth elements (REE), Nik Nazmi said his ministry will convene a committee chaired by him under the National Minerals Council soon.

Source: Bernama

Nik Nazmi: Govt eager to explore potential of green hydrogen as alternative fuel

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Sarawak’s focus on green and renewable energy would be the mainstay of the state’s economy towards 2030 and beyond, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

In a statement issued by the Sarawak Premier’s Office today, Abang Johari said the development of all other sectors was consequent upon the growth of the energy industry.

He pointed this out in his opening address during a meeting with Shell’s top officials at the oil giant’s headquarters in London today.

The premier, who is leading a delegation to Sweden, Norway and the United Kingdom (UK), flew in to London from Oslo yesterday evening to wrap up a weeklong working visit aimed at studying Sweden’s Ombudsman policy, the carbon capture storage (CCS) initiative and policy of Norway and the UK as well as the renewable energy industry of these countries.

“The premier called on Shell, which had a long history in the oil and gas industry in Sarawak to continue to become Sarawak’s partner in the development of its O&G resources including CCS.

“He paid tribute to Shell that had played a significant role in Sarawak’s economic development since oil was first drilled in 1910 in Miri,” read the statement.

Among those accompanying Abang Johari were Deputy Premier and Sarawak Minister for International Trade and Investment Datuk Amar Awang Tengah Ali Hasan and Sarawak’s Deputy Minister for Energy and Environmental Sustainability Dr Hazland Abang Hipni.

Abang Johari and members of his delegation were received on arrival at the premises by Shell executive vice president for conventional oil and gas Peter Costello, executive vice president exploration Marc Gerrits and Shell Malaysia country chair Siti Hurrairah Sulaiman.

Source: Bernama

Energy sector to be mainstay of Sarawak’s economy: Abang Johari

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orest City, a mega multi-million-development project in Iskandar Puteri, has been designated a Special Financial Zone.

Prime Minister Datuk Seri Anwar Ibrahim announced this today, saying that the move aimed to boost foreign investment and simultaneously invigorate the economic growth in Iskandar Malaysia.

Anwar, also the finance ministry, said underpinning this initiative was a key provision to benefit knowledge workers (K-workers) within the special financial zone.

As knowledge-workers (k-workers), he said they would enjoy a flat income tax rate of 15 per cent with immediate effect.

He added that other facilities offered to eligible companies and individuals include special-rate tax incentives and expedited immigration lanes to facilitate the entry of experts from abroad.

The prime minister made the announcement during his speech at the Jelajah Belanjawan tour, held at the Dewan Banquet in Bangunan Sultan Ismail in Kota Iskandar here today.

“These incentives would stimulate growth, particularly in healthcare, education, and tourism.

“I am confident that these measures would attract numerous companies facing high operational costs in Singapore,” he said, citing the republic’s elevated housing and education costs.

“The Immigration Department was instructed to facilitate the rollout of these incentives,” he said.

He said the unique advantage of Johor’s proximity to Singapore should be seen as a complementing factor.

“Johor and Singapore should not compete but complement each other towards an economic cooperation aimed at maximising the potentials of both nations.

“The Forest City project’s designation as a special financial zone further shows the unity government’s commitment to fostering economic growth and competitiveness in the Iskandar Malaysia region,” Anwar said.

The first leg of the nationwide Jelajah Belanjawan tour kickstarted in Johor.

It attracted industry players from various to collect feedback on the 2024 Budget.

Source: NST

Forest City granted special financial zone status to attract foreign investment, PM reveals

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Minister of Communications and Digital Fahmi Fadzil (pix) is confident Malaysia has the potential to become an Asian digital ‘tiger’ if the country can achieve success in the three main aspects related to digital infrastructure and economy.

He said the first aspect is to resolve the issue of the last three per cent of populated areas that do not have network coverage.

“Secondly, to guarantee or improve the level of cybersecurity and personal data protection and thirdly increase the amount of investments and expanding digital economy.

“If these three aspects (can be achieved) with the cooperation of various agencies and parties under the Ministry of Communications and Digital (KKD), I believe the spillover from this effort can be enjoyed by the people and that success will eventually see Malaysia becoming an Asian digital tiger,” he said.

He told reporters this after officiating the #JagaDataKita campaign and Touch ‘n Go eWallet MyCyberShield personal data protection subscription today.

Fahmi said another equally vital component was the fact that many companies are beginning to consider expanding their operations in Malaysia, including adding to their total number of workers.

“This is also very positive, not just for the digital economy ecosystem in Malaysia but, eventually, indirectly making Malaysia a hub or site for these companies to expand in the Southeast Asian region and beyond.

“This is also one of our targets, where we see the infrastructure we have, either physically or through initiatives such as Malaysia Digital Economy Corporation (MDEC) and Malaysia Digital, are capable of making Malaysia the main destination for investors to expand their operations in Malaysia and beyond in the Southeast Asian region,” he said.

In another development, when asked about allegations that there was a data leakage during the implementation of the state life insurance scheme, Insurans Hayat Selangor (INSAN), Fahmi said the Personal Data Protection Department (JPDP) was investigating the matter.

“I cannot speak about this until it (the investigation) is completed because I was told that the JPDP is carrying out an investigation… but any incident that happens, if the JPDP detects the possibility of anything untoward happening that involves personal data, they have the power to investigate.

“Usually, it will take some time depending on case by case and on many other factors,” he said.

Meanwhile, asked if there was a personal data leakage following the automatic pre-registration process of the implementation of INSAN by matching the Election Commission (EC) voter register information, Fahmi said the matter is being investigated by the JPDP.

“As far as I can remember, before I became a Member of Parliament, I could buy data and I did buy the data then for political matters as an individual contesting in Lebuh Pantai and, yes, the information can be obtained,” he said.

Fahmi said it would be up to the JPDP whether or not to call up the EC as they (the JPDP) have full authority under the law.

The Menteri Besar Incorporated (MBI Selangor), in a statement yesterday, said the allegations that there were leaked data of Selangor residents was inaccurate and there was no element of data leakage involving Selangorians under INSAN because it is protected by the state government.

Source: Bernama

Fahmi: Malaysia has potential to become Asian digital ‘tiger’

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Cross-border renewable energy (RE) trade is a crucial boost to allow Malaysia to develop its battery energy storage sector, said Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad.

“At present, it is still difficult to make it economical in Malaysia but I think the moment you allow cross border, then it would be feasible,” he told Malaysian journalists at the 41st Asean Ministers on Energy Meeting (Amem-41) and Asean Energy Business Forum (AEBF) 2023.

He said battery energy storage is an important component in ramping up the nation’s RE capacity, adding that Malaysia is keen to become a hub for RE in Asean.

“We realise that in the Asean power grid, Malaysia will be right smack in the centre of it, so that’s why I think we can be a hub for RE,” he said.

In May this year, the government lifted the ban on exports of renewable energy (RE), allowing the trading of excess RE with neighbouring countries as part of a policy review to strengthen the nation’s green energy sector.

Source: Bernama

Nik Nazmi: Cross-border renewable energy trade a crucial boost to Malaysia’s energy storage future

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