Malaysia sets up clean energy exchange

April 16, 2024 | 16:59

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The Malaysian government has agreed to establish the Energy Exchange Malaysia (Enegem) to facilitate cross-border sales of green electricity to neighbouring countries.

Malaysia sets up clean energy exchange, Source: freepik.com

Kuala Lumpur – The Malaysian government has agreed to establish the Energy Exchange Malaysia (Enegem) to facilitate cross-border sales of green electricity to neighbouring countries.

In a statement issued on April 15, the Energy Transition and Water Transformation Ministry said the setting up of Enegem is in line with Malaysia’s energy transition aspiration and commitment to support regional energy integration via the ASEAN Power Grid (APG) initiative.

Accordingly, the cross-border sales of energy through the Enegem platform will be implemented based on the latest ‘Guide for Cross-Border Electricity Sales' (CBES) issued by the Energy Commission.

The statement said the auctioning process for cross-border sales of green electricity shall commence with a 100 megawatts (MW) pilot run, utilising the existing interconnection between Singapore and Peninsular Malaysia.

Among the key features of the auction for the purchase of green electricity is the pilot scheme which is open to Renewable Energy (RE) Bidders who hold electricity generation and/or retailer licences for the Singapore electricity market, it said.

Auctioning via the Enegem Platform will allow Malaysia to further strengthen its cross-border electricity integration framework while paving the way for greater renewable energy development and regional cooperation on cross-border energy trading between ASEAN countries, the ministry stressed.

The APG is an initiative to construct a regional power interconnection to connect the region, first on a cross-border bilateral term, and then gradually expand to a sub-regional basis leading to a total integrated South-East Asia power grid system.

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By VNA

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