Sarawak Energy, Swedfund International AB Sign Grant Agreement For Variable Renewable Energy Penetration Study

26 OCTOBER 2021

Sarawak Energy and Swedfund International AB signed a grant agreement on Wednesday, 20 October to study the limits for Variable Renewable Energy (VRE) Penetration in Sarawak.

Under this agreement, Swedfund International AB will fund Sarawak Energy's study to determine the acceptable limits of variable solar into the future grid system without affecting the state's energy stability and reliability.

Speaking at the virtual signing ceremony, Datu Haji Sharbini said, “Our hydropower resources allow us to generate predominantly renewable, reliable and affordable energy to power the socio-economic development of Sarawak and beyond, in line with the UN SDGs and global effort to combat climate change. This has been proven effective as we are able to provide our people with affordable and clean energy, attract investments into Sarawak and significantly decarbonise our power system by over 70% from 2011 to 2020.”

“We will continue to maintain a predominance of renewable hydropower and target to incorporate 300MW of large scale solar in our generation mix by 2030. Sarawak Energy is Malaysia's largest renewable energy developer and primary power utility for Sarawak, with a vision is to achieve sustainable growth and prosperity for Sarawak by meeting the region's need for reliable, renewable and affordable energy.”

He added, "Thank you to Swedfund International AB for offering to finance the Variable Renewable Energy Penetration Study. The result for this study could help us to better plan the integration of solar into Sarawak's future grid system”.

Sarawak Energy’s Group Chief Executive Officer, Datu Haji Sharbini Suhaili and Senior Vice President for Legal, Land and Company Secretary, James Paul, represented Sarawak Energy in the signing ceremony, while Swedfund International AB was represented by its Chief Executive Officer, Maria Håkansson and Legal Counsel Philip Reznik.

“We are very pleased to have signed this Grant Agreement between Swedfund and Sarawak Energy. It enables us to move forward with the important study on Variable Renewable Energy Penetration as well as it launches a collaboration which we hope will be mutually fruitful and long lasting. For Swedfund it is of great value to support Sarawak Energy in the transition towards reducing CO2 emissions. Fighting climate change and its consequences is a key element in Swedfund’s mission to reduce poverty,” said Maria Håkansson, CEO of Swedfund.

Datu Haji Sharbini Suhaili (Top, 1st row) and James Paul (Bottom, 1st row) represented Sarawak Energy in the signing ceremony while Swedfund International AB was represented by Maria Håkansson (Top, 2nd row) and Philip Reznik (Bottom, 2nd row)