PETALING JAYA: Tenaga Nasional Bhd (TNB) will invest RM15bil in the national power grid under Budget 2027, while new funding and energy projects are set to support the country's energy transition.
Prime Minister Datuk Seri Anwar Ibrahim said UEM Lestra would invest RM1bil in energy projects, including an energy storage facility at Kuala Lumpur International Airport (KLIA) and a 1GW hybrid energy project in Johor.
The Retirement Fund Inc (KWAP) will also establish a RM1bil climate fund, while green investment allowances will be extended until 2030 to encourage investment in sustainable energy initiatives, he said when tabling Budget 2027 in the Dewan Rakyat on Friday (Oct 9).
At the regional level, PETRONAS and TNB will participate in the Asean Power Grid project to strengthen energy security, improve connectivity and create economic opportunities among participating countries.
The initiative is also expected to support regional diplomacy and cooperation.
Anwar said PETRONAS' full ownership of the Pengerang Integrated Complex would strengthen the facility's role as a strategic national asset, optimise its value chain towards higher-value products and support fuel supply security.
The Pengerang biorefinery, developed through cooperation with Enilive, Eni's energy company, and Euglena, will produce lower-carbon fuels, including sustainable aviation fuel, hydrotreated vegetable oil and bio-naphtha.
For households, the government will offer Nur Madani rebates of up to RM200 for energy-saving air conditioners and refrigerators to encourage the use of more efficient appliances.
