KUALA LUMPUR: Tenaga Nasional Bhd
(TNB) has more than doubled its budgeted capital expenditure (capex) to RM42.9bil – comprising RM26.6bil in base capex and RM16.3bil in contingent capex – to support infrastructure development for Malaysia’s energy transition.
President and chief executive officer Datuk Megat Jalaluddin Megat Hassan said of the contingency capex, 64% will be to upgrade infrastructure to support renewable energy or RE, the National Energy Transition Roadmap or NETR and interconnection projects, while 30% is to meet potential demand growth, and 6% to maintain security of supply.
“We will also push forward on green hydrogen, carbon capture, electric mobility, and smart grid interconnections, all vital pieces of the Asean Power Grid vision,” he said in TNB’s 2024 annual report filed with Bursa Malaysia yesterday.
