Malaysia’s energy minister today vowed to embrace the energy transition and deliver the necessary government incentives to deliver affordable, reliable and sustainable energy to her country.
Delivering the keynote speech at POWERGEN Asia in Kuala Lumpur, Yeo Bee Yin said that “energy is an enabler for economic development. Energy is not about creating profits ” it’s about creating a brighter future for the people of our country”.
She told the audience that “this is the time of disruption: the lines of the power industry are being blurred and people who do not want to change will be left behind. This is a challenging time ” but it is also an exciting time.
She said the energy transition from fossil fuels to cleaner forms of generation presented a huge opportunity for her country, and stressed that she was already working on an energy blueprint that she hoped would transform her country.
With the price of renewables ” solar in particular ” falling to make them more competitive than many fossil fuels, she pledged to deliver incentives which would deliver greater investment in renewables in Malaysia.
She said that her department were exploring a host of new policies to stimulate the investment and development of a number of energy markets, including cogeneration, rooftop solar PV, and behind-the-meter efficiency solutions.
The minister also stressed the importance of regional alliances and said that the time was right for an “ASEAN power grid”.