Malaysia launches energy exchange for cross-border sales of renewable energy

The Malaysian government has approved the establishment of Energy Exchange Malaysia (Enegem) to facilitate the sale of renewable electricity to neighboring countries.

According to a statement from the Ministry of Energy Transition and Water Transformation, the creation of Enegem aligns with Malaysia’s energy transition goals and its commitment to supporting regional power integration via the ASEAN Power Grid Initiative (APG).

Enegem will operate in accordance with the latest ‘Guide for Cross-Border Electricity Sales (CBES)’ issued by the Energy Commission, inviting interested parties to participate in the first auction for the purchase of renewable electricity from Malaysia’s power supply system to be exported to Singapore via the Enegem Platform.

The auction will begin with a pilot run of 100 megawatts (MW), utilizing the existing interconnection between Singapore and Peninsular Malaysia. Renewable Energy (RE) Bidders holding electricity generation and/or retailer licenses for the Singapore Electricity Market are eligible to participate in this pilot scheme.