Kuala Lumpur:Prime Minister Datuk Seri Anwar Ibrahim has announced the extension and enhancement of tax incentives to promote the adoption of green and sustainable technologies, effective until December 31, 2030.

According to BERNAMA News Agency, these incentives include investment tax allowances of up to 100 percent for companies involved in green and sustainable technology projects, electric vehicle charging stations, and those purchasing green technology assets for their own use. Anwar, who also serves as the Finance Minister, emphasized the need to accelerate the energy transition agenda to secure the country's long-term energy security through investments in renewable energy.

Tenaga Nasional Bhd is committing RM15 billion to strengthen the national grid, while UEM Lestra is investing RM1 billion in projects such as an energy storage facility at Kuala Lumpur International Airport and a 1-gigawatt hybrid energy project in Johor. The energy transition agenda also includes the utilization of a RM1 billion Climate Fund by the Kumpulan Wang Persaraan (Diperbadankan) (KWAP) directed towards green projects, including renewable energy and decarbonization efforts.

Anwar also noted that hot weather has led to increased household electricity consumption. To address this, the NUR MADANI initiative offers rebates of up to RM200 for purchasers of energy-efficient air conditioners and refrigerators.