The 6th International Sustainable Energy Summit

Malaysia’s ambitions for energy transition took centre stage at the just concluded International Sustainable Energy Summit (ISES) 2024. Over 3,000 participants from across the globe converged to discuss the future of sustainable energy.

Organised by the Ministry of Energy Transition and Water Transformation through the Sustainable Energy Development Authority (SEDA), the summit was inaugurated by YAB Dato’ Sri Haji Fadillah Haji Yusof, Deputy Prime Minister, who is also the Minister of Energy Transition and Water Transformation.

This gathering of government leaders, industry experts, and international organisations underscored the nation’s commitment to driving energy innovation and achieving climate goals.

Malaysia’s Vision for Energy Transition
At the heart of the summit was the theme “Accelerating Energy Transition Through Innovation,” which framed the discussions around Malaysia’s strategic approach to energy sustainability.

YAB Dato’ Sri Haji Fadillah Haji Yusof outlined the government’s ambitious targets to significantly increase the share of renewable energy in the national electricity supply, aiming for 40% by 2035 and 70% by 2050. This initiative forms a crucial part of Malaysia’s broader effort to transition towards a low-carbon future, reducing its reliance on coal and other fossil fuels.

The Deputy Prime Minister emphasised that the transition will be supported by substantial investments in modernising the grid network. This includes the adoption of digitisation technologies and energy storage systems, which are vital to ensuring that the infrastructure can support a greater influx of renewable energy. The government is also keen to promote regional cooperation by facilitating cross-border trade in renewable energy, which is expected to enhance the development of a regional power grid.

New Policy Initiatives Unveiled
In his keynote address, YAB Dato’ Sri Haji Fadillah Haji Yusof announced a range of new initiatives designed to accelerate Malaysia’s energy transition. One of the primary measures is the enhancement of the open grid mechanism, which will provide wider access to green electricity through corporate power purchase agreements. This policy is expected to attract increased investment in the renewable energy sector, fostering greater industry growth.

The government also revealed plans to shift from the current single-buyer model to a market-based approach for electricity supply. This change is intended to mitigate risks within the national electricity system and encourage broader participation from local renewable energy providers.

As part of efforts to diversify energy sources, a new Feed-in Tariff (FiT) quota of 190MW will be introduced, specifically for the development of biogas, biomass, and small hydropower projects.

Additionally, the government will be conducting bio-energy cluster studies to identify promising areas for the development of biogas and biomass resources. Under the new Corporate Renewable Energy Supply Scheme (CRESS), there will also be opportunities for the procurement of green electricity from non-solar sources, further expanding Malaysia’s renewable energy mix.

Strengthening Energy Infrastructure
The summit also highlighted the importance of building a resilient energy infrastructure to support the country’s growing renewable energy capacity. The government is expediting the implementation of energy storage systems at the grid level and exploring the creation of an electricity ancillary market. These efforts are essential to maintaining a stable and reliable electricity supply as Malaysia increases its reliance on renewable sources.

In line with these developments, the government is enhancing the Technical and Vocational Education and Training (TVET) Programme to better align with industry needs. By partnering with government agencies, higher education institutions, and the private sector, the programme aims to provide the necessary skills training to support the renewable energy sector’s expansion.

Commitment to a Carbon-Neutral Future
As the driving force behind Malaysia’s energy transition, the Ministry of Energy Transition and Water Transformation remains dedicated to realising the nation’s goal of carbon neutrality by 2050. The strategies and initiatives introduced at ISES 2024 reflect a clear and determined approach to creating a sustainable, affordable, and innovative electricity supply system. These efforts not only position Malaysia as a leader in the global energy transition but also pave the way for a greener and more resilient future for the nation.

Event: The 6th International Sustainable Energy Summit
Venue: Kuala Lumpur Convention Centre, Kuala Lumpur
Date: 20th & 21st August, 2024