MALAYSIA SET TO BECOME REGIONAL RE INDUSTRY LEADER WITH LAUNCH OF HETR

Malaysia's Hydrogen Economy and Technology Roadmap (HETR) has been launched, pushing the country to the forefront of energy transition and to becoming a regional leader in the renewable energy (RE) industry.

The HETR was launched by Deputy Prime Minister Datuk Seri Fadillah Yusof during the opening ceremony of the 14th International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM 2023).

Fadillah, who delivered the opening keynote address on behalf of Prime Minister Datuk Seri Anwar Ibrahim, said the successful implementation of the HETR will enable Malaysia to tap into the global green hydrogen market, estimated to be worth at least US$189.19 billion (RM824 billion) by 2050.

“The HETR implementation alone is anticipated to have prospects of generating up to RM12.1 billion in revenue with an estimated contribution of between RM49 billion and RM61 billion to gross domestic product by 2030, generating over 45,000 job opportunities over the same period.

“With the implementation of initiatives under the recently unveiled National Energy Transition Roadmap (NETR) and (now) the HETR, Malaysia is set to be at the forefront of becoming a regional leader in the energy transition and renewable energy industry,” he said at the launch of IGEM 2023.

He said that IGEM 2023, which is held from 4th to 6th October, and themed “Race Towards Net Zero: Leadership for Climate Action”, could play a decisive leadership role in accelerating and delivering the region's net zero and energy transition agenda.

Organised by the Ministry of Natural Resources, Environment and Climate Change (NRECC) and co-organised by the Malaysian Green Technology and Climate Change Corporation (MGTC), IGEM 2023 is Southeast Asia's leading trade event for green technologies and eco solutions.

NRECC Minister Nik Nazmi Nik Ahmad noted that as Southeast Asia's leading trade event for green technologies and eco solutions, IGEM has an impressive track record of having delivered over RM30 billion in business leads and over 530,000 visitors from over 112 countries since 2010. IGEM 2022 had recorded about RM4.25 billion in business leads, with 33,000 visitors and 370 exhibition booths.

“This year, we are confident that we could surpass last year’s achievement of RM4.25 billion business leads and also expect 40,000 visitors from 40 countries. 

“Yesterday, I personally met with some of the delegates, visited the exhibition floor and took part in some of the conference sessions; it is clear to me that IGEM's role as one of Asean's leading trade events for green tech and eco products remains as relevant as it was when its doors first opened in 2010.

“The government's energy transition intent under the NETR augurs well with my ministry's current effort to decarbonise the power sector through accelerated deployment of RE capacity in our power installed capacity from the existing 25% to 70% in 2050,” he added.