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BUSINESS

TNB, Petronas join forces to advance Malaysia’s carbon-neutral aspirations

19/08/2022 07:18 PM

KUALA LUMPUR, Aug 19 (Bernama) -- Tenaga Nasional Bhd (TNB) and Petronas have signed a memorandum of understanding (MoU) to strengthen collaboration in driving innovative solutions towards decarbonisation in support of Malaysia’s aspirations to be a carbon-neutral nation by 2050.

In a joint statement, they said this will be achieved mainly through a collaborative study for the development of green hydrogen ecosystem and carbon capture and storage (CCS) technology leveraging both organisations’ technical expertise and resources.

Under the MoU, they said both parties will conduct a joint feasibility study on the application of CCS solutions at TNB power generation plants.

The parties will also look into developing green hydrogen fuel for power generation and intensifying efforts to co-create a green hydrogen ecosystem to provide cleaner energy solutions for Malaysia and markets overseas, they said.

They said this initiative will begin with the re-powering of TNB’s retired Sultan Ismail Power Station in Paka, Terengganu using high-efficient combined cycle gas turbine with hydrogen ready technology by 2029 towards cleaner energy production.

“Leveraging on the strengths of both TNB and Petronas, the Paka power plant serves as a unique pioneering project in deploying green technologies that may be utilised in future power plants. Both TNB and Petronas have significant investments in Terengganu.

“With the re-powering of TNB’s Paka power plant and Petronas’ aspiration to decarbonise its assets in Terengganu, the shift into green technology development ensures sustained economic growth for the state,” they shared.

Commenting on the initiative, Energy and Natural Resources Minister Datuk Seri Takiyuddin Hassan said the collaboration will help fast-track the government’s efforts in its aspiration to reduce greenhouse gas emissions.

“The timing to embark on this effort is also perfect as the government is scheduled to launch the National Energy Policy 2021-2040 soon that will outline Malaysia’s transition to green energy.

“The government is confident that the cooperation of these two energy companies will accelerate the reduction of their emission intensity as they decarbonise,” he added.

Both TNB and Petronas have pledged their commitment towards Net-Zero Carbon Emissions (NZCE) 2050. The MoU is poised to infuse agility across the value chain to conduct and grow business in ways that contribute positively to society and the environment.

-- BERNAMA

 

 


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