Malaysia’s Petronas says it has set up a new clean energy unit as part of a global push by the state-owned oil firm to produce carbon-free energy.
Petronas, the world’s fourth-largest exporter of liquefied natural gas (LNG), said in 2020 it was stepping up investments in hydrogen and expanding its portfolio in clean energy.
Gentari, a unit wholly owned by Petronas, is expected to deliver renewable energy, hydrogen and green mobility solutions.
Gentari said by 2030 it aimed to build a clean energy capacity of 30-40 gigawatts (GW), particularly in solar, and to supply up to 1.2 million tonnes per annum (mtpa) of hydrogen.
It also aims to capture a 10% share of the electric vehicle (EV) ecosystem across key markets in Asia Pacific, especially in Malaysia and India.
Gentari will benefit from Petronas’ capacity and resources to pursue clean energy on an industrial scale, its chairman, Muhammad Taufik, who is also Petronas’s chief executive, said.
The firm said its existing assets and projects include more than 1 gigawatt-peak (GWp) of solar capacity in India and Malaysia, a pipeline of clean hydrogen projects, as well as more than 220 EVs.
The first of the clean energy hydrogen projects, which is being developed in Malaysia and other markets, is due to come on stream in 2025, it added.
- Reuters, with additional editing by George Russell