“The new division, to commence from June 1, 2023, will push further TNB’s sustainability drive by anchoring on three strategic pillars – energy sources, energy vector, and energy usage,” said TNB president and CEO Baharin Din.
In addition to that, the group also appointed Leo Pui Yong as its first chief sustainability officer who will focus on strengthening sustainability governance and effective deployment of its sustainability initiatives.
Leo was formerly the group’s chief risk officer.
Aspiring to achieve net-zero emissions by 2050, TNB targets to reduce 35% of its emissions intensity and 50% of its coal generation capacity by 2035.
Embarking on green projects
In line with the group’s sustainability ambitions, TNB has embarked on various green projects both locally and abroad.
On the local front, the group’s subsidiary TNB Bukit Selambau Solar Dua Sdn Bhd had secured up to RM185 million in financing for its third large-scale solar project.
Another of its subsidiaries, TNB GSPARX Sdn Bhd, has secured 1,926 solar projects with a total of 272MW capacity, which are expected to generate RM70 million in revenue this year.
The group has also activated six electric vehicle charging points along the North-South Expressway and East Coast Expressway Phase 2, with three more in the pipeline for this year.
Meanwhile, its wholly-owned subsidiary in the United Kingdom, Vantage RE Ltd, had acquired a 97.3MW onshore wind portfolio and a 102MW ready-to-build solar portfolio in the UK, with an added option to develop a 65MW battery energy storage system.
Baharin said the group intends to step up its ET agenda and increase the use of green energy in the region through collaboration with major power players in Thailand, Vietnam and Laos.
“Beyond new revenue streams from renewables, these collaborations allow for a wider integration and reallocation of renewable energy resources that will help decarbonise the Asean power system as well as ensure greater energy security for the region.
“These strategic partnerships will boost our ongoing drive to strengthen the Asean Power Grid (APG) interconnectivity and advance Malaysia’s aspiration of becoming the renewable energy hub for Asean,” he concluded.