Thermal power to remain most significant source in Malaysia during 2019-2030, says GlobalData

All dem heat from Parlimentary debates, then.

Dateline 2019-05-16, Investor Ideas:

Thermal power capacity in Malaysia is expected to show a significant growth of 5 GW during 2019-2030 in order to meet the increasing consumption, and non-hydro renewable power is estimated to follow with a 2.8 GW capacity addition during this period, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Malaysia Power Market Outlook to 2030, Update 2019 – Market Trends, Regulations, and Competitive Landscape‘, reveals that due to an immature renewable power market and strong public resistance to the proposed adoption of nuclear power, the country will continue to embrace thermal power during 2019-2030 while also adding small amounts of renewable power capacity each year.

Harshavardhan Reddy Nagatham, Power Analyst at GlobalData, comments: “Progressive economic reforms and a continuous increase in industrial activity are expected to boost economic progress in Malaysia, driving the country’s GDP at a compound annual growth rate (CAGR) of 4.8% during the forecast period. In addition, increasing population will result in a significant increase in electricity consumption.”

Malaysia is a net importer of electricity. The country is primarily dependent on thermal resources for electricity generation and, although it possesses substantial fuel reserves, it faces the risk of declining energy security.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: