Malaysian oil and gas giant Petronas plans to operate around 8 gigawatts of renewables in Australia by 2030.
Petronas will work through Gentari, its clean energy unit. It is currently operating renewable plants in Malaysia and India. The company’s latest expansion plan would make it one of the largest electricity suppliers.
Earlier this year, the company had bought the Australian assets of Germany’s Wirsol Energy. It means it has secured 422 MW of solar capacity with a further possibility of 765MW expansion.
According to Low Kian Min, Gentari’s chief renewables officer, “additional capacity including storage would be made by the first quarter of 2024 and developments would be in solar, wind and batteries and could be through the company’s own investments, joint ventures or further purchases.”
He further informed that the company’s internal target is to have between five and eight gigawatts of installed capacity by 2030.
The company informed that Gentari’s initial focus will be the eastern states and Western Australia that make up the national electricity market.
The company sees its renewable projects in Australia as a “first flag”, the official said, adding that investments in green hydrogen are possible in the future.