KUALA LUMPUR (July 27): National utility company Tenaga Nasional Bhd (TNB) expects to invest around RM2 billion in floating solar photovoltaic (PV) projects, said its CEO Datuk Baharin Din on Thursday (July 27).

Speaking at the launch of the National Energy Transition Roadmap, Baharin said TNB is working on two floating solar projects near its hydro dam sites, namely the 650MW Sungai Perak power station, and the 400MW Kenyir power station in Terengganu.

“We are also exploring our new Nenggiri site,” said Baharin, referring to the 300MW Nenggiri hydro power station in Kelantan currently under construction.

TNB already has a mini operational floating solar asset in its ash pool in Manjung, Perak, a dumping site for ash from its power plant there, with a capacity of 105 kilowatt-peak, according to reports in March 2022.

Malaysia has several operational floating solar assets, including a 13MW asset in Dengkil, Selangor, and a 9.9MW facility in Manjung.

In Sarawak, its state-owned energy outfit Sarawak Energy Bhd aims to install at least 400MW of floating solar capacity by 2030 at its dams in Sarawak, which include the massive 2.4GW Bakun dam which has a surface area of 695 sq km.

TNB is also looking to install a 780kW offshore floating solar plant off the coast of the Tioman island, according to reports.

The floating solar venture is part of TNB’s strategy to accelerate the decarbonisation of its power generation business.

The company, which has a sizeable exposure on coal, is also seeking to decarbonise by reducing dispatch from coal plants, and swapping it with solar and gas capacity while ensuring security of supply, Baharin said.

TNB's share price closed unchanged at RM9.60, valuing the group at RM55.56 billion.

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