TNB plans RM22 bln investment for 2022-2024 to further develop grid of the future - MIDA | Malaysian Investment Development Authority
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TNB plans RM22 bln investment for 2022-2024 to further develop grid of the future

TNB plans RM22 bln investment for 2022-2024 to further develop grid of the future

18 Nov 2021

Tenaga Nasional Bhd (TNB) plans to invest RM22 billion for 2022-2024 under the Incentive-Based Regulation (IBR) framework, subject to government approval, to continuously develop the grid of the future into a key enabler of the energy transition.

In support the country’s goal to shift from using fuel to 31 per cent of renewable energy (RE) by 2025, the national grid must be ready to receive renewable energy (RE) to support dynamic two-way energy flow, while maintaining voltage stability, Deputy Minister of Energy and Natural Resources, Datuk Ali Biju said.

Noting TNB’s commitment to continuously prioritise investment in modernising the national grid into the “grid of the future”, he said this enables a smart grid that remains reliable, resilient, smart with digital technology and flexible in meeting the country’s needs for the energy transition.

“In meeting this requirement, fair returns to TNB to sustain the capital expenditure required is important,” he said when officiating at the International Conference on Learning and Development (ICLAD2021) here on Tuesday.

“This will be done by connecting the entire value chain from generation to delivery and distribution to the customers’ premises. Consumers actually have already been enjoying the grid of the future in recent years through TNB’s capital investment, as well as under IBR,” he said.

TNB chief regulatory & stakeholder management officer, Datuk Wira Roslan Ab Rahman in his welcoming remarks meanwhile said TNB remains committed to investing towards energy transition in line with the efforts to provide economic support to the government.

“We are undertaking investments to address climate change issues whilst doing what is necessary to help stimulate and reshape the country’s economic recovery.”

Roslan said that TNB aims to enhance the industry’s efficiency and improve customer experience while promoting sustainable energy consumption to balance the capability and security of Malaysia’s grid system.

“TNB is also ready to lead Malaysia’s transition into low-carbon mobility especially via Battery Electric Vehicles (BEV) through collaborative efforts with various stakeholders in the country.”

On ICLAD2021, he said the international conference is a platform for intellectual discussions on the learning and development field of the energy industry in Malaysia and around the world. The conference, now in its fifth year, is organised by ILSAS, the training arm of TNB.

Source: Bernama