News

Govt's target of 50 pct renewable energy generation by 2050 is achievable - accenture

By Azlee Nor Mahmud

KUALA LUMPUR, Sept 17 -- The government’s target of 50 per cent renewable energy generation by 2050 is achievable with current trajectory and support, said Asean Smart Grid Services Lead, Accenture, Singapore, managing director Lim Chih Shoong.

He said it was very critical that the government had come up with a lifestyle for the nation so that everyone could work towards the same outcome.

“A big investment is going into renewable with peripherals, and just for electric vehicles, Malaysia is spending about RM5 billion,” he told Bernama recently.

Meanwhile, Lim said based on the regional trends, solar panels and batteries cells production would also be ramped up.  

“Technology advancement has lessened the cost for renewable, making it better and cheaper. There is no difference in utility storage as compared to cellular handphone technologies, as it keeps on advancing making it better and cost-efficient. 

“We have looked at massive (energy) storage, from a container size to half the size and the price will continue to drop, in conjunction with the increase in efficiency and that is not going to stop anytime soon,” he said.

He said Accenture has a point of view, which is the Wise Pivot -- a market model solution that will help transform the core business to optimise core processes and unlock trapped value within current operations, driving investment capacity with leading-edge, digitally-enabled solutions.

“Grow the core business to release the fuel for growth. Energy providers can grow their core business with selective investment in renewable and generation, in grid enhancement and expansion, and greater optimisation of the distribution and current client-based expansion,” he said.

--BERNAMA

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