PM Anwar: Govt to expedite energy transition roadmap to establish Malaysia as regional leader in renewable energy

KUALA LUMPUR, July 11 — Prime Minister Datuk Seri Anwar Ibrahim today said that the government is expediting the implementation of the National Energy Transition Roadmap (NETR) to position Malaysia as a regional leader in renewable energy.

He said the launch of the first phase of the NETR will attract an investment of RM25 billion and create approximately 23,000 high-quality jobs.

“The first phase of the NETR plan will highlight ten strategic and high-value flagship pilot projects as a measure to implement the National Energy Policy 2022-2040 with an expected investment worth RM25 billion, create 23,000 high-quality jobs, and reduce carbon dioxide equivalent emissions by more than 10,000 gigagrams cumulatively.

“The launch of the first phase of NETR will be held on 27 July 2023 and will be followed by the launch of the second phase NETR in August 2023,” he said in a statement today.

The National Economic Action Council (MTEN) meeting held on July 10 acknowledged its importance as a catalyst for elevating Malaysia as a regional leader in renewable energy.

“The pilot flagship projects and NETR initiatives aim to increase industry participation in exploring new energy sources and shaping market demand where efforts will be made to identify financial resources to bridge the funding gap for such projects,” he said.

Anwar added that the government’s emphasis on the energy transition aligns with global efforts to combat climate change and underscores Malaysia’s commitment to a sustainable and prosperous future.

Anwar also expressed his commitment to ensuring regular governance improvements and structural changes that would enhance Malaysia’s national economic potential.

“The government always strives to ensure that the country achieves the Aspiration of a Low Carbon Country 2040 and always moves forward in line with current technological progress and meets the socioeconomic needs of the people to ensure the well-being of Malaysia and its people,” he said.

Last month, Anwar said that the NETR and Hydrogen Economy and Technology Roadmap (HETR) are expected to be launched in the second half of the year.

He said NETR would be complemented by the HETR, which will pave the way for the achievement of environmentally sustainable, long-term energy security in Malaysia, driven by technological innovation.