Tenaga completes purchase of Blyth from EDF Renewables


KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has completed its acquisition of a 49% stake in Blyth Offshore Demonstrator Limited (BODL) from EDF Renewables, marking the power giant’s maiden entry into the international offshore wind market.

In a filing with Bursa Malaysia, TNB said its unit Vantage RE Ltd had acquired the stake from EDF Renewables, the renewable energy (RE) arm of French state-owned utility company, Électricité de France (EDF).

BODL owns an operating offshore wind asset comprising five turbines with installed capacity of 41.5MW (Blyth 1), and development rights for an innovative floating offshore wind project of up to 58.4MW (Blyth 2) located off the Northumberland coast in England.

“The acquisition showcases TNB’s capability in delivering its Sustainability Pathway aspiration, thus accelerating its global Environmental, Social and Governance (ESG) drive.

“As announced recently, TNB aspires to achieve net zero emissions by 2050, and this is underpinned by a commitment to reduce 35% of its emissions intensity as well as 50% of its coal generation capacity by 2035.

“The acquisition also This new strategic partnership provides a platform for TNB to learn and benefit from EDF Renewables’ vast experience and capabilities in the offshore wind sector for future growth across TNB’s focus markets, mainly in the UK, Europe and Southeast Asia,” TNB said.

TNB’s president and CEO, Datuk Ir. Baharin Din said: “This landmark acquisition is one of the planned strategic acquisitions for TNB to accelerate its journey in delivering on its global Environmental, Social and Governance (ESG) vision.

“We have recently announced our Sustainability Pathway, a blueprint with an aspiration to achieve net zero emissions by 2050.

“The Pathway is underpinned by our commitment to reduce 35% of TNB’s emissions intensity as well as 50% of our coal generation capacity by 2035.”

He added that TNB aims to grow its RE capacity to 8,300MW by 2025.

“We believe this partnership will give us an edge in an increasingly competitive industry as we look to rapidly scale up our global RE portfolio and strengthen our position in the future energy landscape.”

Baharin said the strategic partnership would allow the Group to fully benefit from EDFR’s extensive experience in the offshore wind sector across TNB’s focus markets, mainly UK, Europe and Southeast Asia.

“It not only sets the pace for Vantage RE to grow in the UK and Europe, but also provides a solid pathway for TNB to accelerate its ambition to be a leading provider of sustainable energy solutions.”

“Involvement in the UK offshore wind sector will allow TNB to capitalise on the vast experience of the existing Vantage RE management, broaden its technology know-how and provide further capability and talent development within the group,” he said.

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