PETRONAS aims to have at least three gigawatts of installed renewable energy capacity from solar and wind by 2024. Image: PETRONAS With countries and investors increasingly turning to renewable energy, major oil and gas companies such as Shell and BP have announced plans to expand their investments into clean and low-carbon energy. In Asia, Malaysian state-owned energy firm PETRONAS set up a Gas and New Energy (GNE) division last year, which encompasses the Liquefied Natural Gas, Gas and Power and New Energy businesses. Its New Energy business focuses on renewables, cleaner energy and related technologies such as battery storage systems and electric vehicles. While the company has invested in solar power projects since 2013, attaining 14 megawatt-peak (MWp) of installed capacity by 2018, it aims to have at least three gigawatts of installed renewable energy capacity by 2024, through renewables unit PETRONAS New Energy. Dr Jay Mariyappan, head of PETRONAS New Energy, said that its investments will help to future-proof the firm: “We can provide our customers with the solutions they are looking for as they make the transition to cleaner energy. That is why having this division in our company’s portfolio is critical at this time.” A spotlight […]

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