The Government of Malaysia has launched the second phase of the National Energy Transition Roadmap (NETR). In line with this, the government has also identified six energy transition levers, 10 flagship projects and 50 initiatives to transform the country’s energy transition and renewable energy (RE) industry.
Under the initiatives, the government will also earmark RM2 billion in the form of seed funding for the National Energy Transition Facility. The facility will be used to direct funding towards clean energy and energy transition projects that are either marginally bankable or expected to yield below-market returns.
According to estimates, a total of RM60 billion to RM90 billion will be needed to fund key sustainability projects including public transportation expansion and improving grid infrastructure by 2030.
Moreover, the government will also set up a RE exchange in 2024 that will enable price discovery and monetising excess power. Other plans call for a retrofit programme to enhance energy efficiency in government buildings.