New business opportunities in RE

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Analysts say the National Energy Transition Roadmap will not only accelerate the energy transition in the country but also generate growth opportunities within the sector.

“Existing utilities companies, namely TNB and YTL Power are accelerating their investment into RE, transmission and grid, data centre and preparing for RE exports,” HLIB Research said.

“RE engineering, procurement, construction, and commissioning players will also benefit from potentially higher demand for solar power installations.HLIB Research remained “overweight” on the local power sector. At the launch of the NETR last Thursday, Economy Minister Rafizi Ramli revealed that phase one would focus on 10 flagship catalyst projects worth RM25bil to be developed in collaboration with the private sector.

Phase two of the blueprint, likely to be unveiled at the end of next month, was expected to focus on establishing a low-carbon pathway, national energy mix and emissions reduction target as well as identifying key enablers. Similarly “overweight” on the power sector, RHB Research said the NETR would pave the way to expedite energy transition in the country, lifting the potential returns of RE projects via energy exports.“We believe TNB is one of NETR’s key beneficiaries, largely from the potential earnings upside from higher transmission and distribution assets and potential strong ramp-up in domestic RE presence,” it said, adding that TNB had planned RM35bil in investments in 2025 to 2030 for the grid.

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