Malaysia’s national oil and gas company Petronas has unveiled a new entity – Gentari – to accelerate the adoption and commercialization of clean energy.
Gentari aims to provide a suite of renewable energy, hydrogen and green mobility solutions that are safe, responsible, cost-optimized and emissions-reducing by applying an integrated approach across the entire value chain. clean energy for customers around the world.
The company by 2030 aspires to build 30-40 gigawatts of renewable energy capacity, particularly in solar power with additional opportunities in wind and battery storage; and deliver up to 1.2 million tonnes per year of hydrogen by leveraging skills in large project development to achieve scale as a low-carbon hydrogen producer, starting with projects in Malaysia.
Gentari also aims to become a preferred provider of green mobility solutions, supporting the electric vehicle ecosystem by capturing 10% market share (currently estimated around 25,000 charging points) in key markets in Asia- Pacific with a presence anchored in Malaysia and India.
“Gentari will provide cleaner energy solutions to meet the energy needs and low carbon aspirations of Malaysia and its customers at home and abroad. With a dedicated team focusing on cleaner energy supply, distribution and retail, we aim to seize opportunities in low carbon energy by providing affordable solutions and systems. and accessible by enabling scale of production and availability of infrastructure,” said company chairman Tengku. Muhammad Taufik.
“By augmenting the progress Petronas has made to date in its existing New Energy business and leveraging partnerships with next-generation energy and technology providers, Gentari will benefit from the capacity and resources to pursue clean energy at industrial scale, starting with Malaysia and Asia-Pacific.
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“We look forward to meeting the energy needs of today and tomorrow with cleaner energy solutions that fuel progress in a fair and sustainable way,” he said.
Independence to be granted
The new entity will benefit from the required independence from Petronas to focus on innovation and the delivery of clean energy solutions, while seeking funding opportunities to grow the business faster to meet existing and growing demands. explore emerging energy technologies.
Gentari derives its name from the shortened combination of the English word generation or to generate and the Bahasa word melayu (Malay language) lestari, which means sustainable.
The Company’s existing clean energy assets and projects include solar capacity in Malaysia and India and a pipeline of clean hydrogen projects under development in home soil and other priority markets with partners; the first of these projects should start in 2025.
“With solutions already available in our portfolio, we are committed to making the journey to net zero more achievable for our customers, while growing the global clean energy market by investing and innovating with like-minded partners. to get better results,” Gentari said. in a report.