BUSINESS

PETRONAS AMONG THE LEADING COMPANIES OF THE 10 NETR FLAGSHIP PROJECTS — RAFIZI

23/11/2023 01:59 PM

KUALA LUMPUR, Nov 23 (Bernama) -- The leading companies of the 10 energy transition 'flagship' projects under the National Energy Transition Roadmap (NETR) include Prasarana, Khazanah Nasional Bhd, Tenaga Nasional Bhd (TNB), Sime Darby Property, Malakoff and Petronas.

Economy Minister Rafizi Ramli said the government has opened participation for the 10 'flagship' projects to the whole country for leading companies to submit energy transition projects that are being worked on because the government does not want them to involve public allocation and they must be private projects.

"Out of those projects, after being screened by the government, there are 10 'flagship' projects including Prasarana, Khazanah Nasional, TNB, Sime Darby Property, Malakoff and also Petronas.

"The overall implementation and governance of the NETR policy and also the progress of the flagship projects will be monitored by the National Energy Council, which will be managed by Prime Minister Datuk Seri Anwar Ibrahim," he said at the Ministers’ Question Time in the Dewan Rakyat yesterday.

He was replying to an additional question from Datuk Wira Dr Ku Abdul Rahman Ku Ismail (PN-Kubang Pasu) who wanted to know about NETR's progress so far since it was launched last August and which ministry will be leading it and whether Petronas is also one of the first stakeholders in NETR.

On the ministries that are the leaders, will actually depend on the specific field and project or enabler, said Rafizi.

"For example, the financing is under the Ministry of Finance, there are also the Ministry of Economy and the Ministry of Investment, Trade and Industry.

"That which involves the enactment of the law is under the Ministry of Natural Resources, Environment and Climate Change and which involves governance in terms of electricity regulation, we already have it either under the Energy Commission or under SEDA (Sustainable Energy Development Authority)," he said.

On the progress of the projects, Rafizi said they had passed the 'feasibility' stage and entered into 'commercial agreement'.

"If we look at NETR's announcement during the day, it involves investment announcements from foreign investors involving Khazanah and its partners. So while the progress of the projects will be monitored at the level of the National Energy Council but these are commercial projects undertaken by Petronas, Khazanah, Sime Darby Property and so on.

"I'm sure it's actually in their best commercial interest to get this done as soon as possible because we already know that in terms of the interest of investors and also fund managers, they will often buy counters that show the performance of renewable energy which is good," he said.

-- BERNAMA

 

 

 


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