Kuala Lumpur (VNA) - Malaysia is targeting to push the renewable energy (RE) capacity in its national electricity supply to 70% by 2050 to create new economic opportunities for the nation and attract multinationals, according to the country's Minister of Economy Rafizi Ramli.
As reported by the Malaysian news agency Bernama, Rafizi said the Cabinet on May 3 agreed upon the target under the RE Strategic Development Roadmap.
As of last December, the installed capacity for RE in the nation’s power supply stood at 25%, he said at a recent joint media conference with Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.
As reported by the Malaysian news agency Bernama, Rafizi said the Cabinet on May 3 agreed upon the target under the RE Strategic Development Roadmap.
As of last December, the installed capacity for RE in the nation’s power supply stood at 25%, he said at a recent joint media conference with Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.
“The establishment of an electric power market system to conduct cross-border RE trade will put Malaysia ahead as a regional RE centre,” he said as quoted by Bernama.
Rafizi said the setting of the new target for RE capacity and energy mix will boost transition towards RE by 11 times from 2023 to 2050, easing the electricity cost for the people in the long term.
“A total of 50 million RM (11.2 million USD) has been allocated to install solar infrastructure on roofs and government facilities nationwide in the six-month period towards year-end, and a larger allocation will be provided for this purpose under the next development expenditure,” he added./.
VNA
