KUALA LUMPUR: Terengganu, a state traditionally reliant on petroleum royalties to fund its budget, could rebrand itself as a hub for renewable energy (RE) in Malaysia.
The East Coast state is already involved in various RE segments, according to Terengganu Inc Sdn Bhd president and group chief executive officer Datuk Burhanuddin Hilmi Mohamed.
He told StarBiz that solar power generation is set to become one of the state’s biggest initiatives, while at the company level, they are also looking into wind power.
“As for biomass energy, Terengganu is actually quite advanced, and we’re also looking into carbon capture, utilisation and storage. So technically, we’re in many segments already.
“We expect that more areas will open up, particularly in solar power,” he said.
Burhanuddin opined that these ventures are likely to attract foreign investments, which could total in the billions.
“There are a lot of initiatives, and Terengganu is also partnering with overseas companies to basically kickstart or leapfrog our capabilities.
“Technical capability is very important. We want to be able to immediately deliver our services to the oil and gas industry, especially in technical environments,” he added.
Burhanuddin also mentioned that Terengganu Inc, the state’s strategic investment arm, has introduced a new business segment focused on new energy.
“We’re changing the structure and content here, and hopefully RE will soon be contributing 30% to Terengganu’s revenue.
“Right now, we’re dominated by plantations which contribute about 50%,” he said.
With that, he expressed hope that East Coast Energy (ECE) 2025 would serve as an important platform to ensure the state’s continued relevance in the sector.
Organised by Informa Markets – the team behind Oil and Gas Asia – and supported by Terengganu Inc as strategic partner, EPIC Bhd as corporate partner, and Petroliam Nasional Bhd (PETRONAS) as knowledge partner, ECE 2025 will act as a catalyst for investments, partnerships and innovations that drive inclusive growth, while addressing critical environmental challenges.
The inaugural event, scheduled for June 23-24, 2025, will bring together stakeholders from Malaysia and abroad under one roof to foster collaboration.
Burhanuddin said the main focus will be on the process of transformation, which now extends beyond just the traditional oil and gas or fossil fuel sectors.
“Within the state, we are always trying to build the knowledge and capabilities so that we are ready to participate. Our aim is to be on the inside and remain relevant,” he explained.
He added that the event will feature both large and small players from overseas, but the majority will be local participants.
“There will be stakeholders from the technical side, as well as talent. We also want to ensure that Terengganu’s content is (showcased),” he noted.
PETRONAS projects, technology and health, safety, security and environment senior vice-president Mohd Yusri Mohamed Yusof highlighted that as the country pursues transformation, innovation and collaboration are key.
“PETRONAS is committed to continue unlocking opportunities by fostering innovation ecosystems and impactful collaborations towards creating a sustainable future,” he said.
