TNB accelerates responsible energy transition drive, partners Thailand’s energy players

Kualalumpur: Here is the text of news released by official news agency Bernama on its website:

Tenaga Nasional Bhd (TNB) is accelerating its responsible energy transition (ET) agenda through three proposed collaborations with major energy players in Thailand to capitalise on regional demand and potential for greener power in Asean.

Through the partnerships, TNB aspires to strengthen Asean power interconnections and enable the various partners to leverage each other’s resources and develop the related regional infrastructure for renewable energy (RE), the electricity provider said in a filing with Bursa Malaysia today.

TNB said it has signed a memorandum of understanding (MoU) with the Electricity Generating Authority of Thailand (EGAT) to set up a joint working committee to study the feasibility of a proposed enhancement of the interconnection capacity between Peninsular Malaysia and Thailand.

Additionally, its two subsidiaries, namely TNB Renewables Sdn Bhd (TRe) and TNB Power Generation Sdn Bhd (Genco) have signed MoUs respectively with Planet Utility Co Ltd (PU) and B.Grimm Power Public Co Ltd (B.Grimm).

The utility giant said the TRe-PU MoU is for exploring potential RE and power generation technologies opportunities in Thailand while the Genco-B.Grimm MoU is for exploring any opportunities for collaborations, participation and development of RE power projects in the Southeast Asia Region.

It said the MoU with PU entails evaluating strategic options for potential RE investment in floating solar, solar rooftop and ground-mounted solar projects in Thailand, which will contribute positively to TRe business growth and market expansion.

“The partnership is intended to capitalise on both parties' strengths in RE project investment and development as well as explore other opportunities within the region,” it added.

As for the MoU with B.Grimm, Genco among others intends to collaborate, co-develop and invest in mutually selected sustainable greenfield and brownfield power projects of B.Grimm Power within the Southeast Asian region, TNB said.

“Embarking on these projects will support Genco's growth and environmental, social and governance target in line with TNB's aspirations to achieve net-zero carbon by 2050,” it said.

TNB president and chief executive officer Datuk Baharin Din said these collaborations are strategic steps to realise key milestones in the company’s responsible ET plan and overall sustainability pathway commitment.

“With the International Renewable Energy Agency’s (IRENA) projection of more than 60 per cent of installed generation in 2050 for Asean countries coming from RE, this translates to at least 1,500 gigawatts of generation capacity, in which TNB hopes to extend our participation,” he added.

The three TNB MoUs were signed and exchanged in the presence of Prime Minister Datuk Seri Anwar Ibrahim who was on a two-day official visit to Thailand.