The timing is right to make the Asean Power Grid a reality, as it is now a matter of our survival.
KUALA LUMPUR (Aug 29): Tenaga Nasional Bhd (TNB) intends to invest upwards of RM90 billion over the next six years for its grid infrastructure, of which 40% will be channelled towards energy transition-related capital expenditure (capex), said its president and group CEO Datuk Baharin Din.
In his closing remarks at the Energy Transition Conference 2023, Baharin said it is a key priority of the national utility company to “strengthen our Asean interconnection” to facilitate its net zero emissions goal.
“The enthusiasm is tangible [across the region]. Parties are committed to making it happen, as the interconnection will enable better RE ambition, support system security, and open up the gateway to over US$6.3 trillion of new investments by 2050,” he said.
“The timing is right to make the Asean Power Grid a reality, as it is now a matter of our survival,” he added.
TNB, which operates RM62.25 billion worth of regulated transmission and distribution assets in the country as at end-2022, has been closely watched amid rising interest towards RE (renewable energy) capacity installation and the national plan to allow RE exports to neighbouring countries.
Studies were also made in the past for transmission links between East and West Malaysia, as well as between West Malaysia and Indonesia, according to the International Energy Agency (IEA).
Development of a flexible cross-border grid is one of TNB’s three objectives in its 2050 Energy Transmission pathway, said Baharin, aside from decarbonisation of its power generation segment and the empowerment of its prosumers and cross-sector electrification.
“There remains many challenges in figuring out the technology, policies and funding required to accelerate this transition,” Baharin said.
“We knew that we could not do it alone and that this would require cross-sector and cross-border solutions,” he added.
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