PETRONAS creates new entity to develop clean energy solutions
PETRONAS yesterday introduced Gentari Sdn. Bhd., a new entity created by Malaysia’s state-owned oil and gas company, to accelerate the adoption and commercialisation of clean energy. The new entity aims to deliver a suite of renewable energy, hydrogen and green mobility solutions that are safe, responsible, cost-optimised, and emissions-abated by applying an integrated approach across the clean energy value chain for customers globally.
“Gentari will offer cleaner energy solutions to meet the energy needs and lower carbon aspirations of Malaysia and its customers at home and abroad. With a dedicated team focusing on the supply, distribution, and retail of cleaner energy, we aim to capture opportunities in the low carbon energy space by providing affordable and accessible solutions and systems by enabling scale of production and infrastructure availability,” said Datuk Tengku Muhammad Taufik, Gentari chairman.
“Elevating the progress that PETRONAS has achieved to date under its existing New Energy Business and building on partnerships with next generation energy and technology providers, Gentari will benefit from the immediate capacity and resources to pursue clean energy at an industrial scale, starting with Malaysia and Asia Pacific. We look forward to meeting the energy requirements of today and the future with cleaner energy solutions that fuel progress in a just and sustainable manner.”
By 2030, Gentari aspires to:
- build a renewable energy capacity of 30-40 gigawatts (GW), specifically in solar with added opportunities in wind and battery storage;
- supply up to 1.2 metric tonnes per annum (mtpa) of hydrogen by leveraging competencies in developing large projects to achieve scale as a low carbon hydrogen producer beginning with projects in Malaysia; and
- become a preferred green mobility solutions provider, supporting the electric vehicle (EV) ecosystem by capturing 10% market share (circa 25,000 charging points based on current estimates) across key markets in Asia Pacific with an anchored presence in Malaysia and India
The intent is for Gentari to operate independently of its parent, to allow it to focus on innovating and delivering clean energy solutions, while seeking financing opportunities to grow the business faster to meet existing demands and explore emerging energy technologies.
Gentari takes its name from the shortened combination of the English word generation or to generate and the Bahasa Melayu word of lestari, which means sustainable. Together the words capture the essence of Gentari’s purpose to provide the world with sustainably generated and responsibly sourced energy that allows society to change how it lives today and progress into the future.
Its clean energy assets and projects to date include:
- over 1 global warming potential (GWp) of solar capacity in India and Malaysia;
- a pipeline of clean hydrogen projects being developed in Malaysia and other prioritised markets together with partners; the first of these projects is targeted to come onstream in 2025; and
- over 220 electric vehicles under the Vehicle-as-a-Service (VaaS) model as well as scaling the existing network of some 170 charge points in India and Malaysia.
With already available solutions in its portfolio, Gentari is committed to making the journey to net zero more feasible for its customers, while growing the overall market for clean energy by investing and innovating with like-minded partners to achieve greater results.