Malaysia announces plans to fully retire CFPPs by 2044
At the London Climate Action Week, Malaysia’s Deputy Prime Minister Datuk Seri Fadillah Yusof said the country has established a phase-out plan for existing coal-fired power plants (CFPPs) by reducing it to 50% by 2035 and completely retiring the plants by 2044.
Fadillah, the Minister of Energy Transition and Water Transformation, made these remarks during a high-level dialogue session on global coal phase-out.
This announcement comes after Malaysia’s 2022 pledge to cease building new coal-fired power plants from 2040 onwards.
Fadillah added, “Malaysia is committed to achieving Net-Zero emissions by 2050, despite the country only contributing to 0.8% of global emissions. However, in recognizing the pivotal role of our collective efforts in mitigating climate change, we are now consciously transitioning away from coal-fired power generation, which currently accounts for nearly half of our national emissions.”
The deputy prime minister recognized the social and economic challenges, including job losses, that may arise from the phase-out process. He stated that the government is creating reskilling programs to provide affected workers with new skills and competencies for the green economy.
Read more: Malaysia’s Ministry of NRES developing National Carbon Market Policy
He said, “We are steadfastly ensuring this shift is balanced and equitable in minimizing economic disruption while maintaining a stable and reliable energy supply for our people and industries.”
Fadillah emphasized Malaysia’s commitment outlined in the National Energy Transition Roadmap (NETR) to achieve 70% renewable energy capacity by 2050. This involves the adoption of solar, biomass, and waste-to-energy sources.
The goal of fully decommissioning coal-fired power plants by 2044 is slightly ahead of the NETR’s initial projection of a near-complete phase-out by 2045. This acceleration is driven by the natural retirement schedule of existing plants and the absence of new coal-fired power projects.
EIB Global supports €271 million Egyptian climate and...
-
During the EU-Egypt Investment Conferenc...
- 02/07/2024
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
Iberdrola, a Spanish renewables company, announced that it has acquired the “80% it did not control of Balantia”. Iberdrola had initially entered the firm’s capital […]
Japan’s largest steelmaker, Nippon Steel and trading house, Sumitomo Corp, announced that they have renewed a long-term contract with Norway’s Equinor to supply seamless steel pipes […]
Cepsa announced that it has entered a strategic partnership with PreZero Spain to advance objectives related to decarbonization. According to the agreement, PreZero Spain will […]
In a new critique of the voluntary carbon market, over 80 non-governmental organizations have urged corporations to exclude carbon offsets from their transition plans, arguing […]
Luxcara, an independent German asset manager for clean energy infrastructure projects, announced that it has signed a “preferred turbine supplier”. The asset manager has signed […]
Genex Power announced that it has secured a five-year $107 million senior debt facility for its 50MW Kidston and Jemalong solar projects in Australia. The […]