Malaysia’s cross-border renewable energy auction for Singapore’s energy importer, managed by Energy Exchange Malaysia (ENEGEM), is set to begin by year-end, announced Deputy Prime Minister Datuk Seri Fadillah Yusof.
Speaking at the 2nd Sustainability Environment Asia (SEA) 2024 conference on Wednesday (Nov 13), Fadillah, who also serves as the Minister of Energy Transition and Water Transformation, highlighted that this initiative is part of Malaysia’s broader efforts to integrate regional power grids and enhance energy security across Asean member states.
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Speaking at the 2nd Sustainability Environment Asia (SEA) 2024 conference on Wednesday (Nov 13), Fadillah, who also serves as the Minister of Energy Transition and Water Transformation, highlighted that this initiative is part of Malaysia’s broader efforts to integrate regional power grids and enhance energy security across Asean member states.
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NewsTranscript
00:00Three, two, and one.
00:11Let me share with you the initiative taken by PETRA
00:15to drive the transition and what to expect in 2025.
00:21Over the next decade,
00:23Malaysia's water services will be restructured
00:26in close collaboration with industrial stakeholders
00:29and the National Water Services Commission, OSPAN,
00:32as well as the Malaysian Water Association.
00:35As of 2023,
00:38urban and rural water supply access coverage
00:42was at 97.1%,
00:44while connected sewerage services
00:47covered 86.9% in major cities.
00:51By the end of next year, 2025,
00:54we aim to achieve 98% coverage of clean water
00:58and sanitation in rural areas.
01:01Integrated Water Resource Management,
01:04or in short IWRM,
01:06has been introduced as a balanced approach
01:10in managing water resources
01:12and their interdependence with environmental ecosystems
01:16for long-term health
01:18by allowing them to regenerate and flourish
01:21while protecting this ecosystem
01:24from overuse and degradation.
01:27IWRM plays a pivotal role
01:30in ensuring environmental sustainability
01:33through balancing water use
01:35from domestic, industrial, agriculture and energy sectors,
01:40adapting to climate change that impacts the environment
01:43to ensure resilience
01:45and addresses water quality issues
01:48through control and protection measures to water sources.
01:52Malaysia's overarching goal
01:54is to guarantee water security for all,
01:57a commitment to be realized
02:00through the adoption of IWRM.
02:03Among these goals
02:05are achieving clean water coverage of 98% in rural areas
02:09and decreasing the non-revenue water rate
02:12to 31% by 2025.
02:16In the energy sector,
02:18decarbonizing the electricity supply industry
02:21is a critical focus
02:23to advance Malaysia's net-zero aspiration,
02:26particularly through the growing electrification
02:30of end-use sectors such as transportation,
02:33industrial processes and household energy consumption.
02:37Consequently, establishing
02:40a clean and reliable electricity grid
02:43is essential to support this transition
02:47and to sustainably meet the national climate
02:50and energy transition goals.
02:53Therefore, through the National Energy Transition Roadmap,
02:57the Government has articulated a strategic ambition
03:00to elevate renewable energy's contribution
03:03to Malaysia's installed power capacity to 70% by 2050,
03:09marking a substantial progression from the present 28%.
03:14This visionary target underscores
03:16a transformative commitment to sustainable energy,
03:20aligning Malaysia's trajectory
03:22with global decarbonization imperatives
03:25and fortifying the nation's pathway
03:27towards a resilient low-carbon future.
03:31Towards this end,
03:33I am proud to share PETRA's commitment
03:35to embracing a brighter and more sustainable energy system
03:40and future with the following actions.
03:43Firstly, we are moving away from coal.
03:47Coal-fired generation will be gradually phased out
03:51and no new coal power plants will be established.
03:54The National Energy Agency has clearly stated
03:57that reducing coal dependency is critical
04:01to limiting global warming
04:03and we are acting on that premise.
04:06Number two, we will continue to enhance grid flexibility
04:11by investing and developing smart grids,
04:14digitalization of the power system
04:17and energy storage system.
04:20By the year 2035,
04:22we aim to increase the grid flexibility by 20%
04:26enabling greater integration of renewable energy sources.
04:31Number three, we aim to stimulate innovation,
04:35attract investments,
04:37and adapt our energy infrastructure
04:39to demands of a rapidly evolving global landscape
04:43that increasingly focuses on ESG,
04:46which is environmental, social, and governance commitments.
04:50Therefore, we have introduced
04:52the Corporate Renewable Energy Scheme,
04:55or better known as CRES,
04:57which encourages corporate consumers
04:59to invest in and source their renewable energy
05:03directly from solar producers
05:05through third-party access grid.
05:08The third-party grid access arrangement.
05:11And four, we'll be spearheading
05:14the effort for regional power grid integration
05:18to further support and enhance energy security
05:21within ASEAN member states.
05:24Further to the regional integrated grid,
05:26it can as well be the economic catalyst
05:29in fostering regional cooperation
05:31through cross-border renewable energy trade.
05:35By sharing excess energy,
05:37we can reduce reliance on fossil fuels
05:40while building integrated ASEAN energy infrastructure.
05:44So as this ends,
05:46we hope that the first green electricity delivery
05:49from the Mated Cross Border Renewable Energy Auction
05:53for Singapore energy importer
05:55under the auspices of Energy Exchange Malaysia, or NEJEM,
05:59shall commence before end of this year.
06:04So ladies and gentlemen,
06:06our strategic plans and commitment
06:09shall be positioning Malaysia to emerge
06:11as a regional leader in climate-resilient nation
06:15and Malaysia expand its reach to the international stage.
06:19Our progress has been acknowledged
06:21by the World Economic Forum,
06:23which ranked Malaysia as the top country in Southeast Asia
06:27on its 2023 Energy Transition Index,
06:32which stands as a testament to our commitment and momentum
06:36in driving sustainable energy transition and transformation.