TNB intends to expand its use of renewable energy around the world

Through its New Energy Division, Tenaga Nasional Bhd (TNB) is seeking to future-proof the firm by expanding its RE (renewable energy) presence worldwide through mergers and acquisitions, strategic partnerships, and asset development with leading RE players.

TNB’s portfolio of RE assets across Europe and the United Kingdom is currently being operated and managed by its fully-owned subsidiary Vantage RE Limited, that started operations on July 1, 2021.

According to the announcement, TNB’s RE portfolio and net-zero objectives were boosted in October 2021 by the acquisition of a 49 percent stake in the offshore wind farm venture Blyth Offshore Demonstrator Limited from EDF Renewables, which is a subsidiary of the French utility corporation Électricité de France.

It completed its 100% acquisition of a 97.3 megawatt (MW) onshore wind property in the United Kingdom in April 2022. Both deals will help the firm’s environmental, social, and governance (ESG) efforts. It currently has a 530 megawatts renewable energy inventory in the UK, which comprises onshore wind, offshore wind, and solar farms, demonstrating the national utility firm’s desire to expand its RE portfolio in key markets like the UK and Europe.

TNB’s president as well as CEO (chief executive officer), Datuk Baharin Din, stated that it will also help the company transition to a new energy era of low carbon generation, that is in accordance with the company’s overall sustainability and ESG purpose.

At a more local level, Baharin said that its power generation subsidiary, TNB Power Generation Sdn Bhd (TNB Genco), will begin work on a hydroelectric dam situated in Nenggiri, Gua Musang, this year in order to speed decarbonization. He believes that when the project is finished in 2026, it will deliver 300 megawatts of renewable power to the national grid.

It will enhance Peninsular Malaysia’s supply security, particularly in the east, as well as Kelantan’s flood management, cleaner water supply, and raw water irrigation. TNB Genco, which provides half of Malaysia’s electricity, is focusing on prolonging the life of current hydropower plants, such as those in Sungai Perak, Kenyir, and the Cameron Highlands, by adopting low-carbon fuel ammonia as a technology of co-firing and carbon capture at its own coal power plants to reduce carbon emissions.

When asked why TNB is starting its RE adventure in another country, Baharin believes acquisitions will are going to be the “pathfinder” for TNB to extend its RE knowledge, embrace the technology, and grow it in Malaysia.

“In Europe, the real estate market is more developed than in our region of the world. We’re adopting a long-term strategy to acquire the technologies and know-how needed to construct and run RE assets.

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