KUCHING, Feb 27: New energy is a long-term investment that promises sustainable benefits for both the environment and future energy needs.
“Green energy may not be generating revenues right away but in the longer run, it is good for the environment and there is a lot of cost savings,” said MARC Ratings Berhad CEO, Rajan Paramesran to TVS at the Borneo Energy Transition Conference (BETC) 2024 conference, today.
He said the transition to cleaner energy makes “economic sense” for companies and corporations to embark on.
“There is a huge demand and drive from investors that want ESG-compliant assets not only in Malaysia but also abroad.
“If the companies delay initiating green energy related projects or infusing green related activities in their operations, they may have to pay a bigger cost down the road,” he said.
Rajan also shared four drivers that shaped and impact the new energy landscape namely regulations, investors, economics and technology.
He added conducive policies would attract investors, which in turn influence the economics and reduce the cost of technology down.
“As technology drives development of hydrogen, solar and so on, we will see the cost falling off,” he said. -TVS
