Tenaga Nasional Berhad (TNB) will invest around RM20 billion per year over the next 28 years as capital expenditure (CAPEX) for initiatives to fast-track TNB’s Energy Transition Plan that aspires to reduce its emissions intensity to net zero by 2050.
“The investment will pave the way for TNB’s journey towards its net zero aspiration and will open opportunities in more than doubling its EBIT, ” said TNB President and Chief Executive Officer, Dato’ Indera Ir. Baharin Din.
“This Responsible Energy Transition journey will bring positive business growth to the Group, even as we accelerate our efforts to decarbonise,” he said at TNB’s Energy Transition Plan 2050 Gallery Walk in Kuala Lumpur yesterday.
The one-day event was attended by the senior leaders of TNB’s major shareholders including Khazanah Nasional, Employees Provident Fund (EPF), Permodalan Nasional Berhad (PNB), and Retirement Fund Inc (KWAP) and Social Security Organisation (SOCSO) as well as fund managers and analysts. It was held to shed more details on TNB’s initiatives to fast-track the pursuit of its sustainability aspiration. Earlier this month, TNB announced initiatives to accelerate its sustainability agenda (initially announced in August last year) and shared progress on its Energy Transition (ET) plan.