TNB ventures into Singapore RE market

The collaboration will allow TNB to tap into the RE and corporate power purchase agreement (PPA) market in Singapore and marks an important milestone for the expansion of TNB’s international RE footprint into South-East Asia, the company said in a filing with Bursa Malaysia yesterday.

KUALA LUMPUR: Tenaga Nasional Bhd (TNB), through its wholly-owned subsidiary TNB Renewables Sdn Bhd, has made its first foray into Singapore’s renewable energy (RE) market via a collaboration with Sunseap Group.

The collaboration will allow TNB to tap into the RE and corporate power purchase agreement (PPA) market in Singapore and marks an important milestone for the expansion of TNB’s international RE footprint into South-East Asia, the company said in a filing with Bursa Malaysia yesterday.

At present, TNB’s total RE portfolio consists of 2,732.3MW in Malaysia (including 2,536.1MW of large hydro) and 666MW across the UK, Turkey and India comprising mainly solar, wind and hydro energy generation assets.

“This will be TNB’s first foray into Singapore’s RE market and the group will be well-positioned to tap into the attractive and rapidly growing corporate PPA segment, ” said TNB president and chief executive officer Datuk Baharin Din.He disclosed that the collaboration would, among others, target strategic clients such as RE100 companies and multinational corporations.

This initiative is expected to drive the growth in clean and green energy demand within the region in the coming years.