TNB’s sustainability division to bolster ESG strategy

Baharin said the strategic partnerships would boost TNB's ongoing drive to strengthen the Asean Power Grid interconnectivity and advance Malaysia’s aspiration to be the RE hub for Asean.

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has formed a new sustainability division to drive the implementation of its environmental, social, and governance (ESG) strategy, thus reinforcing its sustainability commitment and responsible energy transition (ET) journey.

President and chief executive officer Datuk Baharin Din said the new division, which commences yesterday, would push the company’s sustainability drive further by anchoring on three strategic pillars, namely energy sources, energy vector, and energy usage.

“Regionally, TNB has stepped up our responsible ET agenda through collaboration with major power players in Thailand, Vietnam, and Laos to capitalise on serving regional demand with greener power.

“Beyond new revenue streams from renewables, these collaborations allow for a wider integration and reallocation of renewable energy (RE) resources that will help decarbonise the Asean power system as well as ensure greater energy security for the region,” he said in a statement.

Baharin said these strategic partnerships would boost its ongoing drive to strengthen the Asean Power Grid interconnectivity and advance Malaysia’s aspiration of becoming the RE hub for Asean.

On the energy sources pillar, TNB Power Generation Sdn Bhd (TNB Genco) had committed to several expansion plans from 2023 onwards, he said.

He said they include the construction of the Nenggiri hydroelectric project scheduled for commercial operation in 2027, finalisation of a new power purchase agreement for the Sungai Perak life extension programme, model planning for the Paka repowering project, and finalisation of a partnership collaboration for the new 2,100 megawatts (MW) combined cycle gas turbine in Kapar.

In addition, he said TNB Genco and its subsidiary, TNB Remaco Sdn Bhd, had submitted an expression of interest in liquefied natural gas to power projects in Vietnam and signed a memorandum of understanding with North Power Service Joint Stock Co for future collaboration on potential energy-related services in Vietnam.

“Our wholly-owned subsidiaries in the United Kingdom, Vantage RE Ltd has acquired a 97.3MW onshore wind portfolio and a 102MW ready-to-build solar portfolio in the UK with an added option to develop a 65MW battery energy storage system, with commercial operation expected in the second quarter of 2024 (2Q24).

“The company aims to expand its portfolio with greenfield assets in various technologies and locations across Europe.

“Meanwhile, our TNB Bukit Selambau Solar Dua Sdn Bhd secured up to RM185mil in financing for its third large-scale solar (LSS) project under the government’s LSS4 programme,” said Baharin.

On the energy vector pillar, he said TNB is discussing with the relevant authorities in Malaysia and Singapore to form a joint committee to study the feasibility of a second link from Peninsular Malaysia to Singapore. — Bernama

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