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Netr Project Implementation To Ensure Fair, Equitable Energy Transition - Nik Nazmi

Minister of Economy Rafizi Ramli (centre) after the launching of National Energy Transition Roadmap (NETR) on July 27. Also present are (from left) Bursa Malaysia Chairman Tan Sri Wahid Omar, Minister of Natural Resources, Environment & Climate Change Nik Nazmi Nik Ahmad, Ministry of Economy Secretary General Datuk Nor Azmie Diron and Bursa Malaysia Chief Executive Officer Datuk Muhamad Umar Swift.

PUTRAJAYA, July 30 (Bernama) -- The successful implementation of 10 projects and six flagship initiatives under Phase 1 of the National Energy Transition Roadmap (NETR) will contribute to a fair and equitable energy transition and boost the growth of the country's renewable energy industry, especially renewable energy.

Minister of Natural Resources and Climate Change Nik Nazmi Nik Ahmad, in a statement today, said the ministry will focus on the implementation of all relevant projects and initiatives to support the energy transition commitment.

The NRECC, he said, will ensure that all projects and initiatives provide optimal benefits to the country and the people.

"This is in line with the basic principle of the energy trilemma, which is to guarantee the reliability of the system and the supply of electricity to users, produce sustainable energy at an affordable cost and be able to reduce the carbon footprint of the national electricity supply system," he said.

On July 27, the government launched NETR Phase 1, involving 10 key catalyst initiatives as well as six key energy transition drivers, namely energy efficiency, TBB, hydrogen, bioenergy, green mobility, and carbon capture, utilisation and storage (CCUS).

Among the high-impact projects to be implemented under NETR Phase 1 is the development of floating solar with a potential total capacity of 2,500 megawatts (MW) at the Tenaga Nasional Bhd hydro dam for electricity generation and energy storage, as well as the construction of 4.5 MW rooftop solar at residences, with a capacity of up to 10 kilowatts (kW) for each house.

Economy Minister Rafizi Ramli when launching NETR Phase 1 was reported to have said that the implementation of the plan will open up investment opportunities of between RM435 billion and RM1.85 trillion by 2050,

For NETR Phase 1, the total committed investment is worth RM25 billion which is expected to create about 23,000 high-impact and high-quality jobs in addition to reducing 10,000 gigagrams of carbon dioxide equivalent annually.

Nik Nazmi said NRECC will ensure that the capacity of the national grid infrastructure for electricity supply is increased in line with TBB's capacity increase commitment to support the implementation of the energy transition roadmap.

The projects and initiatives will be implemented until 2040 and they are expected to support NRECC's aim to increase the mix of TBB capacity in electricity supply to 70 per cent as well as achieve the country's aspiration for net zero greenhouse gas release by 2050.

-- BERNAMA

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