BUSINESS

SEDA MALAYSIA AIMS TO TAKE THE LEAD IN BIOENERGY CLUSTERING INITIATIVE

11/12/2023 04:07 PM

KUALA LUMPUR, Dec 11 (Bernama) -- The Sustainable Energy Development Authority (SEDA) Malaysia aims to lead the charge towards a more sustainable energy future by spearheading initiatives to promote bioenergy clustering. 

The authority said in a statement that it looked forward to forge partnerships with key stakeholders to accelerate a responsible energy transition (ET) for Malaysia, aligning with global sustainability goals.

SEDA Malaysia chief executive officer Datuk Hamzah Hussin shed light on the upcoming National Energy Transition Roadmap (NETR) plans on harnessing new technology and encouraging collaboration between different sectors with strong bioenergy potentials.

He said the authority is also committed to bridge the gap between the untapped potential outlined in the Malaysian Renewable Energy Roadmap (MyRER) published by SEDA Malaysia.

“SEDA Malaysia has proposed several strategies for boosting the bioenergy industry, such as promoting technology exchange between Malaysia and developed countries, partnering with private sector entities and renewable energy companies.

“Thus, it will create spin-off economic opportunities and invest in innovative technologies to convert various types of biomass waste into electricity or other forms of energy. 

"The initiatives are geared towards creating environment-friendly solutions while providing job opportunities within the industry," said Hamzah.

He shared this at the recent panel discussion at the 28th Conference of Parties to the United Nations Framework Convention on Climate Change (COP28). 

Meanwhile, Hamzah said innovation plays a dual role in achieving net-zero greenhouse gas (GHG) aspirations as early as 2050.

To foster the advancement of renewable energy within the country, he said SEDA Malaysia intends to enhance the feed-in-tariff (FiT) mechanism, enabling the inclusion of new energy sources, such as geothermal and wind energy.

Accordingly, SEDA Malaysia is keen on exploring various potential funding sources, namely carbon taxes, per cent contributions from renewable energy sales to neighbouring countries, and reallocating funds from fossil fuel subsidies to renewable energy funds.

On accelerating energy transition through innovation, SEDA Malaysia in collaboration with the Ministry of Natural Resources, Environment and Climate Change (NRECC) has successfully soft-launched the 6th International Sustainable Energy Summit (ISES) 2024, which will be held in Kuala Lumpur Convention Centre on Aug 20-21, 2024. 

The summit aims to catalyse transformative dialogue on sustainable energy solutions.

This reflects Malaysia's unwavering commitment to driving the global energy transition through innovative strategies. 

-- BERNAMA

 

 


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