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BUSINESS • 23/10/2024 11:51 AM

Three Companies Qualify For Online Bid To Supply Renewable Energy

KUALA LUMPUR, Oct 23 (Bernama) -- Three companies have met all the requirements to participate in the online bidding on June 16, 2024, for a pilot project to supply renewable energy (RE) across borders to Singapore via Energy Exchange Malaysia (ENEGEM).

The Ministry of Energy Transition and Water Transformation (PETRA) said that two Singaporean companies were successful in their bid to secure 100 megawatts (MW) of green electricity, with cross-border supply agreements currently being finalised.

“In conducting this cross-border RE trade, the government is committed to safeguarding the nation's interests and ensuring mutual benefits," PETRA said in a written response on the Malaysian Parliament’s website.

It added that priority will be given to meeting the country's growing demand for green electricity.

At the same time, the focus is also on attracting high-value investments that require green electricity, including from Singapore, particularly to the Johor-Singapore Special Economic Zone

This initiative aims to create new economic opportunities and generate wealth for the local RE industry.

-- BERNAMA

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