Kuala lumpur: Malaysia will continue to ensure that the country's energy policy and regulatory framework evolve in line with changing global economic and industrial trends, Deputy Prime Minister Datuk Seri Fadillah Yusof announced. Fadillah, who also serves as the Minister of Energy Transition and Water Transformation, emphasized the importance of this effort to meet the increasing demand for green electricity supply from sectors such as multinational companies, data centers, the electrical and electronics industry, high-tech manufacturing, and export-oriented businesses.
According to BERNAMA News Agency, Fadillah highlighted the broader implications of the energy transition agenda, which now encompass economic competitiveness, high-quality investments, industrial development, energy security, and national resilience, beyond just environmental concerns. He stated that Malaysia's national energy policy is guided by the principle of the 'energy trilemma,' which includes energy security, affordability, and environmental sustainability. The government aims to implement the energy transition in a balanced manner, ensuring grid stability and avoiding unnecessary burdens on consumers.
Fadillah also pointed out the need for a more innovative, flexible, and investment-friendly market approach to achieve the National Energy Transition Roadmap's (NETR) aspirations. The roadmap targets a 70 percent renewable energy capacity by 2050 and includes a policy against developing new coal-fired power plants. In this regard, the Corporate Renewable Energy Supply Scheme (CRESS), introduced on July 26, 2024, under the GREENS MADANI initiative, stands as a strategic initiative to expand green electricity access through an open access approach utilizing existing national grid infrastructure.
He explained that CRESS allows corporate consumers to obtain renewable energy directly from developers without needing dedicated private transmission infrastructure. The government views CRESS as not just a renewable energy program but an important economic catalyst supporting green investments, ESG commitments, corporate decarbonization efforts, digital economic growth, and Malaysia's long-term regional competitiveness.
Earlier, Fadillah attended a CRESS engagement session in Putrajaya, involving about 200 participants at the Baiduri Hall, Ministry of Energy Transition and Water Transformation (PETRA). He remarked that the strong attendance and participation reflected the commitment of all parties in supporting Malaysia's energy transition agenda and developing a more progressive and sustainable green energy ecosystem. The session discussed important topics like grid readiness, Battery Energy Storage Systems (BESS), project financing, cost structure, regulatory considerations, and the future direction of Malaysia's corporate green energy market.