KUALA LUMPUR, Dec. 9 (Xinhua) -- Malaysian utility firm Tenaga Nasional Bhd (TNB) and Singaporean energy firm Sembcorp Power have signed a renewable energy supply agreement on Monday to advance regional energy sustainability.

This initiative, part of the Cross-border Electricity Sales for Renewable Energy Scheme, aligns with the ASEAN Power Grid (APG) initiative and Malaysia's energy transition goals, facilitating renewable energy trade with neighboring countries through Energy Exchange Malaysia (ENEGEM), TNB said in a statement.

ENEGEM conducted its inaugural auction in June, where Sembcorp secured a 50MW allocation of green electricity with renewable energy certificate, sourced from Malaysia's solar and hydro-power generation.

"This initiative positions Malaysia as a key player in green electricity trading and promotes energy security, efficiency, and sustainability across the region," said TNB President and Chief Executive Officer Megat Jalaluddin Megat Hassan.

It is noted that this initiative is a cornerstone of the APG, which envisions a sustainable, interconnected energy system for the region.

By leveraging ENEGEM, this initiative sets the foundation for future expansions and long-term collaborations, ultimately driving decarbonization and strengthening regional energy security, said the statement. Enditem

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