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Tnb's Uk Venture Geared To Accelerate Malaysia's Responsible Energy Transition

KUALA LUMPUR, July 9 (Bernama) — Tenaga Nasional Bhd’s (TNB) foray into the renewable energy business in Europe through its wholly-owned subsidiary in the United Kingdom, Vantage RE Ltd, will provide Malaysia with invaluable insights to accelerate the country’s responsible Energy Transition (ET).

In a statement today, Minister of Natural Resources, Environment and Climate Change (NRECC), Nik Nazmi Nik Ahmad said it is essential for Malaysia to navigate this energy transition, whilst balancing issues such as energy security, affordability, and environmental sustainability.

“In doing so, Malaysia will be able to remain economically resilient while at the same time, leveraging on the economic opportunities of sustainable growth.

“The transition will also benefit the country through technology transfer and enhancement of human capital competencies,” he said.

Nik Nazmi, who was in London recently for a working visit to Vantage RE, commended TNB for its remarkable achievement in leading Malaysia’s ET, reducing its carbon footprint, and embracing renewable energy both in Malaysia and overseas.

Also present during this visit were the Deputy Secretary General (Energy), NRECC, Datuk  Mohamad Razif Abd Mubin; Energy Commission chairman Mohammed Rashdan Mohd Yusof, and its chief executive officer (CEO) Datuk Abdul Razib Dawood; Counsellor (Multilateral), Malaysia High Commission in London, Siti A’liah Mansor; TNB president and chief executive officer Datuk Baharin Din and its chief new energy officer Zarihi Hashim.

 

International RE business vital for TNB 

For TNB’s UK RE business, the knowledge and expertise to be tapped are invaluable for TNB and Malaysia, Nik Nazmi said, adding that the government is now exploring energy import and export markets and aspires for Malaysia to play a pivotal role in the ASEAN Power Grid.

“I am confident that the UK’s insights will provide crucial guidance for Malaysia as we pursue this vision,” he said.

Concurring, Baharin said Vantage RE is a vital component of TNB’s responsible energy transition journey, and the considerable experience gained in the UK has placed TNB in a unique position to tap into more opportunities.

“The international RE business is one of the priority areas for TNB to thrive in the long term. In keeping with our aspiration as the leading provider of sustainable energy in Malaysia and internationally, we will continue to invest substantially in this area.

“Our overseas venture will expedite RE growth and build TNB capabilities in foreign markets, enabling us to better understand how Malaysia can establish the right frameworks to incentivise the adoption of key technologies such as Battery Energy Storage System (BESS), hydrogen as well as Carbon Capture, Usage and Storage (CCUS) that will support the ET,” he said.

The London-headquartered Vantage RE was established in 2021 to own, operate, develop, and manage a portfolio of RE assets in the UK and Europe as part of TNB’s global environmental, social, and governance (ESG) efforts.

It presently has more than 630 megawatts (MW) of renewable energy assets consisting of solar, onshore, and offshore wind projects across the UK.

During his visit, Nik Nazmi officiated Vantage RE’s new headquarters in 20 Eastbourne Terrace and visited Vantage RE’s offshore wind farms located off the coast of Blyth, Northeast coast of England.

— BERNAMA

 

 

 

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