CRESS Helps Consumers Access Green Electricity, Attracting Investments Into Malaysia -- Fadillah

KUALA LUMPUR, Feb 6 (Bernama) -- The Corporate Renewable Energy Supply Scheme (CRESS) allows renewable energy (RE) generators and green electricity consumers to access the electricity supply grid, thus giving consumers more choices to obtain green energy.

Deputy Prime Minister Datuk Seri Fadillah Yusof said the availability of access to green electricity is expected to attract green investments that emphasise commitment to environmental sustainability and high value to the country, thus creating a new economic value spillover. 

Fadillah, also the Energy Transition and Water Transformation Minister, said the implementation of CRESS as third-party access is one of the government’s options for corporate companies that want to obtain green electricity supplies directly from RE generators.

“From an economic benefit perspective, the implementation of CRESS, which opens up access to the electricity supply grid to RE generators and green electricity users, has provided new options for consumers to obtain the green electricity they need based on their own choices,” he said during a question and answer session at the Dewan Rakyat today.

He was responding to a question from Zahir Hassan (PH-Wangsa Maju) about the effectiveness of the implementation of CRESS as third-party access for energy procurement, especially in terms of economic benefits.

According to Fadillah, the CRESS programme also provides a transparent green energy procurement mechanism and framework for corporate companies to fulfil their environmental, social and governance commitments.

He said there are two RE generators, namely Tenaga Nasional Bhd and UEM Lestra Bhd, which have successfully entered into green electricity procurement agreements with green electricity consumers for an estimated 400 megawatts of RE supply capacity under the CRESS programme, with an expected investment of RM1.2 billion.

-- BERNAMA