Malaysian state owned fully integrated oil and gas major Petronas has a new subsidiary called Gentari Sdn Bhd aiming to build between 30 GW to 40 GW of renewable energy capacity by 2030, along with focusing on green hydrogen and green mobility.
The renewables goal will majorly center around solar with added opportunities in wind and battery storage. Area of focus for utility scale solar and wind will be in Malaysia and Asia Pacific (APAC) with an aim to support green hydrogen aspiration for which the target is to generate up to 1.2 million tons per annum (Mtpa).
It will also explore commercial and industrial (C&I) projects in APAC, while also developing round-the-clock (RTC) energy storage capability. For clean hydrogen, it plans to develop projects in Malaysia, Canada and other competitive geographies.
As for green mobility, Gentari will target to achieve a 10% market share across key APAC markets while positioning itself in the vehicle-as-a-service (VaaS) fleet space.
At present, Gentari owns over 1 GW of solar capacity in India and Malaysia and more than 220 electric vehicles (EV) under the VaaS model. It also claims a pipeline of clean hydrogen projects in Malaysia and other priority markets with partners. Initial projects are to come online in 2025.
A tweak of the word generation mixed with local Malaysian word Lestari meaning sustainable, Gentari is a makeover for Petronas Gas and New Energy Sdn Bhd, according to its website.
"Elevating the progress that Petronas has achieved to date under its existing New Energy Business and building on partnerships with next generation energy and technology providers, Gentari will benefit from the immediate capacity and resources to pursue clean energy at an industrial scale, starting with Malaysia and Asia Pacific," said Gentari Chairman Datuk Tengku Muhammad Taufik.
In March 2021, Petronas and Masdar said they will jointly explore utility scale renewable energy projects including floating solar in Asia and beyond (see Masdar & Malaysia's Petronas Join Hands For RE).