Malaysia is gearing up to implement its Energy Transition Roadmap in a phased approach, starting next month, to effectively work towards its net-zero goals.
The roadmap will identify key initiatives and implementation plans for the next two decades. Economy Minister Mohd Rafizi Ramli announced that the first phase, launching by the end of June, will include strategic projects like hydrogen and solar farms, as well as a dedicated renewable energy (RE) zone.
The subsequent phase, scheduled for August, will focus on enablers such as legislative reforms and incentive funding to accelerate the transition. Rafizi emphasized the government’s commitment to collaborating with the industry and acknowledged the need for tangible actions to address cynicism.
The roadmap signifies Malaysia’s determination to drive change by actively investing in renewable growth areas, with an estimated investment of RM637 billion (approximately US$150 billion) to reshape the regional renewables landscape.
While Rafizi remained non-committal about pegging the ringgit, he expressed confidence in Bank Negara Malaysia’s long-term view on monetary policy decisions.
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