During the virtual 38th ASEAN Ministers on Energy Meeting (AMEM) hosted by Vietnam, Minister of Energy and Natural Resources YB Dato’ Dr. Shamsul Anuar bin Haji Nasarah, raised important issues regarding the current state of ASEAN energy sector that is currently impacted by the Covid-19 pandemic.
During the meeting YB Dato’ Dr. Shamsul Anuar states, that 56 out of 93 bidders offers prices below 20sen sen/kWh for capacities between 30 to 50 megawatts, while the lowest bid received was 13.99 sen/kWh indicating that sustainable energy is becoming more competitive.
On May 2020 Energy and Natural Resources Ministry offered 1,000 megawatts solar quota through competitive bidding process under the Large-Scale Solar (LSS) programme. In efforts to bring a potential RM4 billion worth of investment and 12,000 job opportunities in hopes to leverage on energy transition and accelerate economic recovery.
In addition, Malaysia continues to give its commitment in supporting ASEAN’s vision towards advancing multilateral power trading and ensuring energy security by pledging to explore the technical and commercial feasibility and viability of cross-border power trade up to 100 megawatts in a project known as Lao PDR, Thailand, Malaysia, Singapore- Power Integration Project (LTMS-PIP) from 2022 to 2023.
ASEAN Energy Ministers have agreed to set a new target of 35 percent renewable energy in installed power capacity by 2025 which was set under the Phase 2 ASEAN Plan of Action for Energy Supply in 2025. They believe it will contribute in achieving ASEAN’s target of 23 percent of renewable energy in Total Primary Energy Supply by 2025.
In conjunction with the 38th AMEM, winners of ASEAN Energy Awards 2020 were announced and 15 companies from Malaysia emerged as the winners in three main categories which are ASEAN Energy Efficiency and Conservation Best Practices and ASEAN Renewable Energy Projects.
The Ministry of Energy and Natural Resources encourages more Malaysian companies to participate in the National Energy Awards in 2021 to raise Malaysia’s sustainable energy agenda and expand beyond our borders.