Malaysia’s Tenaga Nasional in talks to increase stake in green energy firms

Photo: Fré Sonneveld/unsplash

Tenaga Nasional Bhd, the most valuable listed utility company in emerging Asia, is looking to sell its gas-fired power plant in Pakistan as it pushes forward with a plan to rely more on renewable sources of energy.

Malaysia’s state-owned electricity producer wants to reduce reliance on fossil fuel, which accounts for about 70 percent of its power generation, Chief Executive Officer Azman Mohd said in an interview in Kuala Lumpur. The company is also considering increasing its stake in Turkey’s Gama Enerji AS that produces electricity using water, wind and natural gas, he said.

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