Tenaga Nasional Berhad’s (TNB) subsidiary in the UK, Vantage RE Ltd, has taken a significant step in Malaysia’s energy transition by venturing into the renewable energy business in Europe. According to the Minister of Natural Resources, Environment and Climate Change (NRECC), Nik Nazmi Nik Ahmad, this move will provide Malaysia with invaluable insights that will accelerate the country’s responsible Energy Transition (ET).
Recognizing the importance of successfully navigating the energy transition while balancing issues like energy security, affordability, and environmental sustainability, Malaysia aims to remain economically resilient while seizing the economic opportunities of sustainable growth. Moreover, the transition will facilitate technology transfer and enhance human capital competencies.
Headquartered in London, Vantage RE was established in 2021 as part of TNB’s global environmental, social, and governance (ESG) efforts. It owns, operates, develops, and manages a portfolio of renewable energy assets in the UK and Europe, currently consisting of over 630 Megawatts (MW) of solar, onshore, and offshore wind projects.
During his recent working visit to Vantage RE in London, Nik Nazmi commended TNB for its remarkable achievements in leading Malaysia’s ET, reducing its carbon footprint, and embracing renewable energy both domestically and internationally. He emphasized the invaluable knowledge and expertise that TNB’s UK RE business will bring back to Malaysia.
Nik Nazmi inaugurated Vantage RE’s new headquarters at 20 Eastbourne Terrace and visited its offshore wind farms off the coast of Blyth, Northeast England. These offshore wind farms, operated in partnership with EDF Renewables UK & Ireland, exemplify high-performing clean energy generation assets. “I am hopeful that Vantage will continue to grow and make even greater strides in the coming years. Your ideas and expertise are invaluable as we pursue our ambitious Energy Transition goals,” said Nazmi when officiating Vantage RE’s new office. Nazmi highlighted the government’s exploration of energy import and export markets and expressed Malaysia’s aspirations to play a pivotal role in the ASEAN Power Grid. He commented, “I am confident that the UK’s insights will provide crucial guidance for Malaysia as we pursue this vision.”
The UK government’s commitment to increase its wind and solar capacity aligns with Vantage RE’s core business growth ambitions. The Review of Electricity Market Arrangements (REMA), launched in 2022 by the UK government, aims to enhance energy security and reduce electricity costs for consumers. This move will stabilize and decrease electricity prices, favoring renewables over volatile energy sources like gas. The UK remains TNB’s key focus market as it expands in the European RE market.
Accompanying Nik Nazmi during the visit were Dato’ Mohamad Razif Abd Mubin, Deputy Secretary General (Energy), NRECC; Mohammed Rashdan Mohd Yusof, Energy Commission Chairman; Dato’ Ir. Ts. Abdul Razib Dawood, CEO of the Energy Commission; Siti A’liah Mansor, Counsellor (Multilateral), Malaysia High Commission in London; Dato’ Indera Ir. Baharin Din, TNB President and CEO; and Zarihi Hashim, TNB’s Chief New Energy Officer.
Dato’ Indera Ir. Baharin emphasized that Vantage RE plays a vital role in TNB’s Responsible Energy Transition journey. TNB’s experience gained in the UK has positioned the company in a unique place. He commented, “The international RE business is one of the priority areas for TNB to thrive in the long term. In keeping with our aspiration as the leading provider of sustainable energy in Malaysia and internationally, we will continue to invest substantially in this area. Our overseas venture will expedite RE growth and build TNB capabilities in foreign markets, enabling us to better understand how Malaysia can establish the right frameworks that incentivize the adoption of key technologies such as Battery Energy Storage Systems (BESS), hydrogen as well as Carbon Capture, Usage and Storage (CCUS) that will support the Energy Transition. We are committed towards TNB’s Energy Transition agenda to reduce 35% of our emissions intensity as well as 50% of our coal generation capacity by 2035,” he added.
Furthermore, Vian Davys, CEO of Vantage RE, reaffirmed their commitment by stating, “At Vantage, we’re committed to increasing our renewable capacity to satisfy the growing demand for clean energy and more broadly, developing TNB’s capability to meet the challenges of the future. In addition to our current 530 MW portfolio, and 102 MW in construction, we plan to explore new markets and technologies that offer attractive growth opportunities, and to strategically expand our footprint in these areas.”