Malaysia's Quest for 70% Renewable Energy Capacity

• Malaysia's groundbreaking renewable energy plan is expected to bring increased investment and regional energy security, with 6 billion ringgit invested in Southeast Asia's largest solar hybrid facility. Tenaga, Malakoff, Sime Darby Property and Petronas are working together to achieve the 70% capacity target by 2050.

Malaysia is taking a bold step towards achieving its renewable energy goal of 70% capacity by 2050 with its plans to develop Southeast Asia’s largest solar hybrid facility. The project is being led by the government’s sovereign wealth fund, Khazanah Nasional Bhd., and has attracted global investments totaling 6 billion ringgit ($1.3 billion). As part of the National Energy Transition Roadmap, 10 projects worth 25 billion ringgit have been unveiled, with involvement from Tenaga Nasional Bhd., Sime Darby Property, Malakoff Corp and Petronas.

In addition to the renewable energy target, the government is also introducing new regulations to better manage energy-intensive activities. Tenaga will be co-developing solar parks in various states and Malakoff will be burning biomass alongside coal at its Tanjung Bin plant. Sime Darby Property will construct 4.5 MW solar capacity across 450 homes, whilst Petronas will develop a bio-refinery in Johor to produce sustainable aviation fuel, hydro treated vegetable oil and biochemicals. The export ban on renewable energy has been lifted in Malaysia, allowing companies to expand capacity and meet regional demands.

What Are Malaysia's Renewable Energy Plans?

• Malaysia has a goal to reach 70% renewable energy capacity by 2050.
• A 6 billion ringgit ($1.3 billion) solar hybrid project is being led by the government’s sovereign wealth fund, Khazanah Nasional Bhd.
• 10 projects worth 25 billion ringgit have been unveiled, with involvement from Tenaga Nasional Bhd., Sime Darby Property, Malakoff Corp and Petronas.
• New regulations to better manage energy-intensive activities are being introduced.
• Tenaga will be co-developing solar parks in various states and Malakoff will be burning biomass alongside coal at its Tanjung Bin plant.
• Sime Darby Property will construct 4.5 MW solar capacity across 450 homes.
• Petronas will develop a bio-refinery in Johor to produce sustainable aviation fuel, hydro treated vegetable oil and biochemicals.
• Export ban on renewable energy has been lifted, allowing companies to expand capacity and meet regional demands.