Investment in NETR projects, initiatives estimated at RM50 bln

Investment in NETR projects, initiatives estimated at RM50 bln

11 Mar 2024

The latest investment for the flagship National Energy Transition Roadmap (NETR) projects and initiatives being negotiated is around RM50 billion, according to the Economy Ministry.

The ministry explained that NETR’s flagship projects and initiatives have different levels of maturity and most are still in the pre-implementation stage.

The flagship projects have started and are being monitored by the Economy Ministry through the National Energy Transition Committee which convened for the first time on Nov 27, 2023, the ministry said in a reply to a question from Mersing MP Muhammad Islahuddin Abas, who wanted to know the latest status of NETR Phase One in meeting the net zero emissions target including the amount of investment identified and the number of job opportunities that have been generated to date.

The reply was posted on the Parliament website today.

The ministry added that the government has placed the development of the Energy Transition Based Industry as an initiative to accelerate the country’s economic structure reform under the Mid-Term Review of the 12th Malaysia Plan.

The NETR Phase One has introduced 10 flagship projects and initiatives under six energy transition drivers namely energy efficiency, renewable energy, hydrogen, bioenergy, green mobility and carbon capture, use and storage.

This flagship project and initiative targets an investment opportunity of over RM25 billion, the creation of 23,000 skilled and high-value job opportunities as well as a reduction in emission of 10,000 Gigagrams of CO2 equivalent per year.

Source: Bernama