"The launch of the NETR marks an important change in our thinking. It is not only a document that contains interim measures to meet our Net-Zero target. But it is a combination of strategies and initiatives that could transform our economy, livelihoods, and our place in the world," Economy Minister Rafizi Ramli said during the official launching of NETR today.
What is NETR?
The National Energy Transition Roadmap (NETR) today announced 10 wide-ranging catalytic initiatives that will open up investment opportunities between RM435 billion to RM1.85 trillion by 2050.
Phase 1 of the NETR contains 10 flagship catalyst initiatives that will define policy thinking and economic direction in years to come:
- An efficient switch to encourage energy efficiency 💫💫💫
- Setting up of a one-gigawatt (1GW) integrated renewable energy (RE) zone, led by Khazanah Nasional Bhd, which will be carried out by a joint venture between UEM Group and Itramas Corp. At 1 gigawatt (GW), this hybrid solar photovoltaic (PV) power plant is the largest of its kind in Southeast Asia.
- Utility-scale energy storage system
- Energy security in Sabah
- Green hydrogen in Sarawak, co-firing of hydrogen and ammonia led by Tenaga Nasional Bhd (TNB) in collaboration with Petroliam Nasional Bhd (Petronas). This will open up the hydrogen gateway in Sarawak as it implements rounds of projects to emerge as the hydrogen hub in the country.
- Biomass demand creation
- Future mobility
- Future fuel
- Put in place the framework of carbon capture and storage (CCS) so that catalyst projects could be implemented in the near future
- Setting up of 5 centralised large-scale solar parks with 100MW capacity each, co-developed by TNB. TNB will also develop 2.5GW of hybrid hydro-floating solar PV projects at its hydro dams.
These flagship projects are expected to generate over RM 25 billion in total investments, 23,000 job opportunities, and a reduction of over 10,000Gg of CO2 equivalent per year.
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Stay tuned for the launch of Phase 2 of NETR in the future ☺☺☺
(Preview: Phase 2 of the NETR will focus on establishing the low-carbon pathway, national energy mix and emission reduction targets, as well as the enablers needed for the energy transition )
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Related Update (10 August 2023)
Announcement of the successful Corporate Green Power Programme (CGPP) bidders 👇👇👇
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