TNB scales up green investment to drive Malaysia’s energy future. (Photo: TNB)
Malaysia’s national energy company, Tenaga Nasional Berhad (TNB), is significantly expanding its renewable energy investments, raising its capital expenditure (capex) to RM42.9 billion (about USD 9.8 billion)—double its previous plan.
The additional investment will focus on solar power, energy storage, and corporate and community renewable energy initiatives to reinforce the country’s energy transition infrastructure.
Accelerated decarbonization with focus on 4 key areas
According to TNB’s latest annual report filed with Bursa Malaysia, 40% is contingent capex, amounting to RM16.3 billion (about USD 3.7 billion). Over 60% of this will be allocated toward infrastructure upgrades supporting renewable energy initiatives and the National Energy Transition Roadmap (NETR).
Megat Jalaluddin, TNB’s President and CEO, emphasized that accelerating decarbonization is the company's top priority. Future investments will focus on four major areas: large-scale solar projects, battery energy storage systems, Corporate Renewable Energy Supply Schemes (CRESS), and Community Renewable Energy Mechanisms (CREAM).
Read more: Malaysia's CRESS initiative to grant third parties grid access from September
Under the NETR framework, two of TNB’s three flagship projects are solar-focused: floating solar installations and centralized solar parks. The floating solar initiative includes the Kenyir project, targeting a combined capacity of up to 2.5 GW. Meanwhile, five centralized solar park projects, each with a capacity of 150 MWp, are currently underway.
In the area of energy storage, TNB has secured a 400 MWh battery project in Sabah, which, upon completion, is set to become the largest of its kind in Southeast Asia.
TNB President and CEO Megat Jalaluddin said the company will increase investments in four key areas, including large-scale solar projects and battery energy storage systems. (Photo: TNB)
Building a regional green energy portfolio
Jalaluddin also highlighted TNB’s active expansion into green hydrogen, carbon capture, electric vehicles, and smart grid interconnection—all critical components for realizing the ASEAN Power Grid (APG).
One notable project is the green hydrogen initiative in collaboration with Petronas, leveraging solar energy from the Kenyir project. This facility already features a 500 kWp solar panel installation and a 1 MWh storage system.
Currently, TNB’s renewable energy portfolio includes 3.3 GW within Peninsular Malaysia and 1.1 GW abroad, primarily in the United Kingdom and Ireland, with investments mainly in wind and solar power.
Source: Bernama(1), (2)
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