TENAGA is considering nuclear energy and hydrogen energy for power generation.
National Energy $TENAGA (5347.MY)$ The CEO Datuk Megat Jalaluddin said that TENAGA is considering nuclear energy and hydrogen as long-term energy sources.
He revealed today in Kuala Lumpur at a summit that they are collaborating with the national oil company to explore a 'new' fuel to enhance their power mix.
However, he also added that the company's current focus is on transitioning to Henry Hub Natural Gas in the mid-term first.
Last year, Malaysia raised its renewable energy deployment target to 70% of total electricity generation capacity by 2050, up from the previous target of 40%.
To achieve this goal, an investment of 637 billion Ringgit (approximately 142.5 billion US dollars) is expected, for investment in renewable energy generation resources, strengthening electrical grid infrastructure, enhancing transmission lines, energy storage system integration, and strengthening power grid system network operations.
Megajalaluddin stated that TNB plans to reduce carbon dioxide emissions concentration by five percentage points annually until 2050.
As of November, our country's Electrical Utilities consumption has increased by 7% year-on-year, exceeding the economic growth rate.
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