Malaysian utility Tenaga Nasional Bhd (TNB) said on Wednesday it was aiming for capital expenditure of about 20 billion ringgit ($4.48 billion) annually till 2050 to fast track its energy transition plans.
The logo of Tenaga Nasional Bhd is seen at its office in Kuala Lumpur December 3, 2013. REUTERS/Samsul Saidsaid on Wednesday it was aiming for capital expenditure of about 20 billion ringgit annually till 2050 to fast track its energy transition plans.
Tenaga, which counts sovereign wealth fund Khazanah Nasional as its biggest shareholder, aims to grab a bigger share of the Malaysian clean energy market that it estimates to be worth between 65 billion ringgit and 80 billion ringgit by 2050.Tenega plans to have its power generation unit TNB Genco account for 40 billion ringgit of it.
"There are various other factors that TNB needs to consider to decide on the IPO," Tenaga said in a statement to Reuters. "At the moment we are focused on improving operational performance and delivering on our Nenggiri hydroelectric plant." Tenaga is also exploring gas and hydropower projects in Southeast Asia, with a target capacity of 800 megawatts by 2050, Baharin added.
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