TNB plans RM22b investment for 2022-2024 to further develop 'grid of the future'

TNB plans RM22b investment for 2022-2024 to further develop 'grid of the future'
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KUALA LUMPUR (Nov 18): Tenaga Nasional Bhd (TNB) plans to invest RM22 billion in 2022 to 2024 under the Incentive-Based Regulation (IBR) framework, subject to government approval, to continuously develop the grid of the future into a key enabler of the energy transition.

In support of the country’s goal to shift from using fuel to 31% renewable energy (RE) by 2025, the national grid must be ready to receive RE to support dynamic two-way energy flows while maintaining voltage stability, Deputy Energy and Natural Resources Minister Datuk Ali Biju said.

Noting TNB’s commitment to continuously prioritising investment in modernising the national grid into the “grid of the future”, he said this would enable a smart grid that remains reliable, resilient, smart with digital technology and flexible in meeting the country’s needs for the energy transition.

“In meeting this requirement, fair returns to TNB to sustain the capital expenditure required is important,” he said when officiating at the International Conference on Learning and Development (ICLAD2021) here on Tuesday (Nov 16).

“This will be done by connecting the entire value chain from generation to delivery and distribution to customers’ premises. Consumers actually have already been enjoying the grid of the future in recent years through TNB’s capital investment, as well as under the IBR,” he said.

TNB chief regulatory and stakeholder management officer Datuk Wira Roslan Ab Rahman in his welcoming remarks, meanwhile, said TNB remains committed to investing in the energy transition in line with efforts to provide economic support to the government.

“We are undertaking investments to address climate change issues while doing what is necessary to help stimulate and reshape the country’s economic recovery.”

Roslan said that TNB aims to enhance the industry’s efficiency and improve customer experience while promoting sustainable energy consumption to balance the capability and security of Malaysia’s grid system.

“TNB is also ready to lead Malaysia’s transition into low-carbon mobility, especially via battery electric vehicles, through collaborative efforts with various stakeholders in the country.”

On ICLAD2021, he said the international conference is a platform for intellectual discussions on the learning and development field of the energy industry in Malaysia and around the world. The conference, now in its fifth year, is organised by ILSAS, the training arm of TNB.