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TNB to generate 3GW renewable energy by 2040 under NETR projects

(From left) TNB COO Megat Jalaluddin Megat Hassan, CEO Baharin Din, and CFO Nazmi Othman.

PETALING JAYA: Tenaga Nasional Bhd (TNB) has unveiled its plan to generate 3GW of renewable energy (RE) by 2040 through three of its flagship projects under the National Energy Transition Roadmap (NETR).

In a press statement today, TNB said these projects will enable it to harness 2.5GW through innovative hybrid hydro-floating solar (HHFS) technology, and 500MW from five distinct large-scale solar parks (LSSPs).

The HHFS projects are located at TNB hydro dam reservoirs and will be executed in four phases from 2023 to 2040.

TNB Power Generation Sdn Bhd will lead the construction of a 230MW capacity installation at the Temenggor and Chenderoh hydro plants as part of the 2.5GW pipeline, to be completed in 2025.

Meanwhile, TNB’s new energy division will generate 90MW in 2025 through LSSPs in order to address the growing demand for sustainable energy.

This initiative will complement existing parks in Sepang, Selangor (50WM) and Bukit Selambau (30MW). Another park, Bukit Selambau 2 (50WM) is also targeted for completion this year.

In addition, the utility provider is partnering with Petroliam Nasional Bhd (Petronas) in co-firing hydrogen and ammonia projects as part of its energy diversification programme.

“Small-scale co-firing projects are underway at selected coal plants in Port Dickson, Negeri

Sembilan (Jimah East Power), and Lumut, Perak (Manjung 1 and Manjung 4),” the statement read.

“As of June 2023, we have already achieved 48% of our total target capacity. Including NETR part 1 projects, we anticipate adding another 1.2GW of domestic RE capacity by 2025,” said TNB CEO Baharin Din.

He added that domestic RE will play a pivotal role in TNB’s portfolio, as it aligns with the country’s objective of reaching 70% installed RE capacity by 2050.

As at 12.29pm, TNB’s share price was down by 2 sen (0.2%) at RM10, giving it a market capitalisation of RM57.87 billion.