Malaysia launches Phase 1 of National Energy Transition Roadmap
Malaysia has launched Phase 1 of the National Energy Transition Roadmap (NETR), detailing 10 flagship projects and initiatives that could generate between RM435 billion (USD96.2 billion) to MYR1.85 trillion (USD409 billion) in energy transition investment opportunities by 2050.
The energy transition will focus on six key areas: energy efficiency, renewable energy, hydrogen, bioenergy, green mobility, and carbon capture, utilisation, and storage (CCUS).
For NETR’s Phase 1, total committed investments are MYR25 billion (USD5.5 billion). This phase is expected to create 23,000 high-impact, high-quality jobs, and reduce 10,000 gigagrams of CO2 equivalent annually.
A Memorandum of Understanding (MoU) has been signed between UEM Group Berhad and ITRAMAS Corporation Sdn. Bhd., for the development of a one-gigawatt (GW) hybrid solar photovoltaic power plant. This plant will be integrated with a Renewable Energy Industrial Park. The MYR6 billion (USD1.3 billion) project, supported by foreign investors, is set to be the largest of its kind in Southeast Asia.
Other high-impact projects include a hydro-floating solar project, residential solar construction, hydrogen production plants in Sarawak, the installation of 10,000 electric vehicle (EV) charging stations, and Petronas-led catalyst projects in the Kasawari and Lang Lebah high-CO2 gas fields.
NETR is a crucial move in actualising Malaysia’s energy policies as the country aims to position itself as a regional leader in the energy transition.
The government will soon complete Phase 2 of NETR, which will feature comprehensive action plans and initiatives to stimulate investments and economic activities. NETR is seen as a key step in realising the ambitions of the MADANI Economic Framework outlined by the Prime Minister.
