TNB set to benefit from data centre boom: Public Investment Bank

TNB is expected to roll out about RM90 billion in capex for six years until 2030 to support energy transition initiatives and system upgrades. – Bernama filepicTenaga Nasional Bhd is expected to increase its capital expenditure , particularly in its transmission and distribution division, to accommodate technology companies’ setting up data centre facilities in the Klang Valley and Johor.

“We estimate that its partnership with Singtel to establish a greenfield data centre in Iskandar Puteri could potentially result in an earnings uplift of about 24% beyond the financial year 2026 .PIVB noted that TNB is expected to roll out about RM90 billion in capex for six years until 2030 to support energy transition initiatives and system upgrades.

“Currently, the total IT load in Malaysia is estimated at about 900 megawatts in 2024, but this is expected to balloon to about 1,400MW by 2029, translating to a compound annual growth rate of 8%,” it said.The investment bank said other beneficiaries from the increased data centre investments in Malaysia include construction sector players such as Gamuda Bhd and IJM Corporation Bhd for their track record in securing more data centre jobs.

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