PETALING JAYA: Fresh off its first foray into the international offshore wind market, Tenaga Nasional Bhd (TNB) says it will continue to focus on leveraging technology partnerships and collaborations to drive it forward.
Project Manager (Strategy and Business Division) Noor Miza Muhamad Razali said the national utility company was looking at all kinds of technologies, but the feasibility, expertise as well as regulatory requirements of any company were important factors to consider.
“We are open to all viable technologies and do not limit ourselves,” she said during a briefing yesterday.
Earlier this month, TNB announced that it had purchased a 49% stake in an offshore wind farm company, Blyth Offshore Demonstrator Ltd, which marked its foray into the international offshore wind market.
The move is also expected to bolster its renewable energy (RE) portfolio, where it aims to reach 8,300 MW of RE capacity by 2025.
Noor Miza said TNB had “all the ingredients” to develop technology with partners, which included more than 600 researchers within TNB and external technology partners.
Among the emerging technology areas identified by the utility giant are wind turbines, solar panels, green hydrogen, energy storage, electric mobility and smart cities.
With this in mind, TNB was also piloting virtual power plant technology that uses software and energy storage that will enable future peer-to-peer generation among energy consumers who produce and consume energy, said Noor Miza.
Chief Strategy and Business Officer Datuk Fazlur Rahman Zainuddin said TNB is taking incremental steps to achieve its 2050 sustainability goals.
“We see this as the next opportunity for business growth and value creation. We are taking a two-pronged approach to charting the course,” he said, adding that it is about making its current core businesses sustainable and building new businesses sustainable for growth.
Fazlur also said that in terms of structure and focus, the New Energy Division (NED) was created at the end of fiscal 2021 to expand the company’s renewable energy portfolio into targeted markets and to establish strategic partnerships with the main renewable energy players.
“NED is streamlining our RE expansion arms and overseeing two key entities, which are Vantage RE, operating out of the UK to focus on the UK and European markets, and TNB Renewables which is based in Malaysia to focus on the domestic market and the southeast. Asian markets.
Meanwhile, when asked if it makes sense for Malaysia to export its renewable energy, Noor Miza said energy trading depends on a country’s goals and systems.
“I think it all comes down to a government’s goals – certainly when it comes to interconnection it’s something that would be good for power systems anywhere,” she said.
Regarding TNB’s reported interest in producing credits for the planned voluntary carbon market and whether this would improve the company’s environmental, social and governance (ESG) profile, Noor Miza said that When it comes to the company’s ESG profile, the focus was on its own operations and plans.
“Carbon credits are only part of the solution, not the most important thing in our ESG program.”