The govt is introducing more RE programmes based on a ‘willing buyer, willing seller basis’
by ANIS ZALANI
THE government is developing more renewable energy (RE) programmes based on a “willing buyer, willing seller basis” to encourage private sector participation apart from lifting the ban on RE exports, said Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.
He said, in lieu of the policy, Malaysia welcomes investment and trade in the energy industry from both local and international players not only to maintain energy security but also to master the economic sector.
“Earlier this month, Economy Minister Rafizi Ramli and I announced the government’s decision to, among other things, lift the ban on exports of RE.
“The government is also introducing more RE programmes based on a “willing buyer, willing seller basis” to induce private-sector participation,” he said during Asean Green Hydrogen Conference 2023 today.
Nik Nazmi added Malaysia has an increasing energy demand due to its growing population and economic growth, with the driving factor being the industrial sector.
He said the energy demand has also been rising at an average of 6% per annum between 2010 and 2018 and 4% per annum over a more extended period between 2000 and 2018.
“Remaining relevant and competitive as an investment destination is now, for countries seeking to attract advanced industries, tied to how much renewable energy we have available,” he said.
Nik Nazmi further said that Malaysia accounts for 0.2% of the global bunkering industry and has the potential to develop into a hub for hydrogen supply for bunkering given its location along one of the busiest international shipping routes.
In the same development, he said Sarawak aims to become a significant player in its green hydrogen production with plans for large-scale commercialisation in the global market by 2027.
This comes after a success story of green hydrogen that was launched as a pilot project in Sarawak, in which a solar-hydrogen hybrid power installation was set up in the Long Loyang sub-district to provide uninterrupted power for a rural clinic serving a population of 2,000 people.
“This is a welcome development because it is also crucial for state and regional as well as local governments, working together with national administrations, to make their own contributions to the quest for reliable and accessible renewable energy.
“I hope other states will follow Sarawak’s shining example to help expedite the transition to RE,” he said.