As Enlit Asia 2024 unfolds, Malaysia's Deputy Prime Minister, YAB Dato Sri Haji Fadillah bin Haji Yusof, emphasised the nation's strategic commitment to a sustainable energy future. In his opening remarks, he outlined significant initiatives and policies aimed at enhancing energy efficiency and boosting renewable energy capacity, reflecting Malaysia's ambition to lead the ASEAN region in energy transition.
The government's vision is encapsulated in the National Energy Transition Roadmap (NETR), which sets a target of 21% energy savings by 2040 and a 70% renewable energy share of installed capacity by 2050. This ambitious plan is not merely a guideline but a call to action, demanding substantial investments and innovative financing mechanisms to achieve a cleaner energy future.
One notable achievement highlighted by Dato Sri Haji Fadillah is Malaysia's significant progress in energy efficiency. As of June 2024, the country recorded a 5.82% reduction in electricity consumption, translating to savings of RM2.21 billion. This was made possible through several initiatives, including the Minimum Energy Performance Standards (MEPS) and the Building Energy Index (BEI) labelling programme, which promote energy-efficient practices across various sectors.
Recognising the urgent need for energy conservation, the Malaysian Parliament recently passed the Energy Efficiency and Conservation Bill, which will enforce energy-efficient practices in industrial, commercial, and residential sectors. This legislative framework aims to embed a culture of energy efficiency throughout the country, aligning with Malaysia's broader sustainability goals.
In addition to focusing on energy efficiency, Malaysia is fostering regional collaboration through initiatives such as the Energy Exchange Malaysia (ENEGEM), which facilitates cross-border green electricity trade. This platform is designed to enhance regional cooperation, allowing Malaysia to export renewable energy and engage in collaborative efforts with neighbouring ASEAN countries.
Furthermore, as the country prepares to chair the ASEAN Ministers on Energy Meeting (AMEM) in 2025, Dato Sri Haji Fadillah underscored the importance of the ASEAN Power Grid (APG) as a crucial element in enhancing energy security and facilitating the integration of renewable resources across the region. The APG aims to ensure a reliable power supply and bolster the resilience of energy systems among ASEAN member states.
As Malaysia takes bold steps toward achieving its energy transition goals, the insights shared at Enlit Asia 2024 serve as a crucial reminder of the collaborative efforts needed to tackle the challenges of sustainable energy. With the government's unwavering commitment, Malaysia is poised to be a leader in the region's journey towards a greener, more sustainable energy landscape.
