Energy transition must be inclusive, needs joint commitment of stakeholders

Sunday 19 May 2024

KUALA LUMPUR (Aug 28): Those involved in facilitating the energy transition must look beyond balancing the energy trilemma, and look into the missing component of equity and inclusiveness to ensure no one is left behind in the process, said Tenaga Nasional Bhd (TNB) chairman Datuk Abdul Razak Abdul Majid.

Speaking during the welcoming address for The Energy Transition Conference 2023 here, Abdul Razak said the pace of facilitating a responsible energy transition “will require the joint commitment from all” including policymakers, suppliers and even customers.

“The energy future is undoubtedly uncertain, but one fact remains: it is constantly evolving.

“The threat of climate change and the need to secure energy security loom large, demanding our immediate attention and collective action.

“The transformation of the global energy system is well underway, but our path to transition is not without its challenges. The threat of climate change and the need to secure energy security loom large, demanding our immediate attention and collective action,” Abdul Razak added.

Malaysia has made ambitious commitments towards energy transition, including accelerating the nation’s medium- and long-term renewable energy capacity target, facilitating the installation of 10,000 public electric vehicle charging facilities nationwide by 2025, and to allow residential solar rooftops leasing, previously allowed only for commercial and industrial customers.

The current government has highlighted energy transition as a key component in its economic transformation agenda, in light of rising demand for renewable energy in the region and abundant untapped supply of the energy resource in the country.

At the same time, debates have been ongoing around the costs of the intermittent energy resource. This year, the government has also revised tariffs for green energy higher, to reflect international pricing and support the viability of future private investments into renewable energy projects.

TNB, which organised the Energy Transition Conference, acknowledges its role within the electricity value chain, and is “determined to actively participate in the agenda for a responsible energy transition programme”, Abdul Razak said.

The national utility company’s strategy, he pointed out, includes concerted planning on generation decarbonisation, enabling flexible renewable energy, cross-border grid exchanges, and empowering cross-sectorial electrification and prosumers’ participation.

“With these initiatives, TNB will usher our stakeholders to witness an increase in renewable energy capacity, enhanced energy efficiency through smart and digital technologies, broader adoption of solar, emerging renewable technologies be it hydrogen, ammonia or storage facilities and a more concentrated regional collaboration in green energy exchanges,” Abdul Razak said.

The Energy Transition Conference 2023 hosts conversations around three economic pillars of Power, Transportation and Cities, which Abdul Razak said mirrors TNB’s approach in cleaner power generation, future grid and supply network, sustainable cities, and transportation sector electrification.

The two-day conference has drawn over 2,000 attendees with 68 speakers from across the globe, and supported by 33 partner organisations. Prime Minister Datuk Seri Anwar Ibrahim is expected to share more details on the National Energy Transition Roadmap (NETR) on the second day of the conference.

Edited ByLam Jian Wyn

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