The statement presented TNB’s ambitious commitment to reduce the utility’s emissions intensity by 35% and 50% of its coal generation capacity by 2035. To further show their desire to prioritize decarbonisation, TNB pledged revenue from coal generation plants would not exceed 25% of overall TNB revenue.
“This new pathway is a clearer manifestation of TNB’s sustainability journey, which began in 2016 with the launch of the Reimagining TNB strategic plan. Today’s commitment provides further clarity towards TNB’s sustainability path over the next 30 years,” said Datuk Ir. Baharin Din. Baharin, TNB President and Chief Executive Officer.
Earlier this year, TNB committed to ending future investments in greenfield coal plants after Jimah East Power commissioned years back. In addition, existing plants will also eventually be phased out of their power purchase agreement (PPA). In the lead-up to the 2035 commitment, TNB stated will continue to improve the efficiency of existing thermal plants, while scaling up its renewable generation portfolio.
“We believe that an inflection point between 2035 and 2040 will determine the speed of our net-zero trajectory. Hence, building up towards that point, TNB is dedicated to develop energy storage solutions and is already in discussions with the Government to implement this as an enabler for RE growth. TNB is also committed to accelerate investments in emerging green technologies like green hydrogen and carbon capture and utilisation (CCU) – as soon as it becomes economically viable,” said Baharin.
The announcement reaffirmed TNB’s commitment to the Government’s green agenda and Malaysia’s aim to reduce Greenhouse Gas (GHG) emission intensity of gross domestic product (GDP) by 45% by 2030, relative to the 2005 baseline. It is targeting 8,300MW of renewable energy by 2025.
“TNB’s Sustainability Pathway supports the nation’s RE plan to increase the share of green energy in its power capacity mix. Our domestic capacity plan is in tandem with the Peninsular Malaysia Generation Development Plan, based on considerations to balance the energy trilemma. The focus of our international business will be to grow our overall RE portfolio and serve as the pathfinder for green technologies which we can eventually adopt in Malaysia.”
“We are committed to this sustainability pathway that is firmly anchored on TNB’s purpose, ‘Better World, Brighter Lives.” added Baharin