Malaysian Prime Minister Anwar Ibrahim has announced that state utility Tenaga Nasional would invest 43 billion ringgit (about $10 billion) to upgrade the country’s electricity grid.
The initiative is aimed at supporting the country’s growing energy needs, particularly in artificial intelligence and battery energy storage systems. At the Energy Asia conference, Anwar also revealed that national oil and gas firm Petronas plans to develop three offshore carbon capture and storage (CCS) facilities.
These efforts are seen as a major step toward decarbonization as Anwar emphasized Malaysia’s emergence as a regional hub for AI and data centers.