Published on June 16th, 2022 | by Subhash Nair0
Petronas Launches Clean Energy Solution Company, “Gentari”
Malaysian oil and gas giant Petronas presents a new clean energy company called Gentari.
Petronas today announced the introduction of a new independent company, Gentari Sdn. Bhd which is tasked with the adoption and commercialisation of clean energy. Normally, we wouldn’t be too concerned with energy generation companies, but part of Gentari’s goals are to introduce green mobility solutions and that means they have their eyes on the electric vehicle market.
One of the company’s goals is to become a ‘green mobility solutions provider’. To do this, they say they will capture 10% of the market share of charging points across Asia Pacific by 2030 with Malaysia and India being two key markets. Their estimate is that they will need to build 25,000 charging points in the next 8 years to hit this target.
As you’ll remember from our article on EV charging port costs, 22kW AC charging ports cost around RM5,000 a piece while DC Fast Charging points can cost over RM100,000 per station. This means a minimum spend of RM115 million in the next 8 years to hit their target assuming only AC chargers are rolled out.
Today, Gentari starts itself off with 220 electric vehicles under their ‘Vehicle-as-a-Service’ (VaaS) model and some 170 charge points in India and Malaysia. These were probably ported over from Gentari’s predecessor, Petronas Gas and New Energy Sdn Bhd.
Here’s the press release with more information on the company’s other clean energy goals and capabilities.
PETRONAS today introduced Gentari Sdn. Bhd. (“GENTARI”) to accelerate the adoption and commercialisation of clean energy. The new entity aims to deliver a suite of renewable energy, hydrogen and green mobility solutions that are safe, responsible, cost-optimised, and emissions-abated by applying an integrated approach across the clean energy value chain for customers globally.
Chairman of GENTARI, Datuk Tengku Muhammad Taufik said: “GENTARI will offer cleaner energy solutions to meet the energy needs and lower carbon aspirations of Malaysia and its customers at home and abroad. With a dedicated team focusing on the supply, distribution, and retail of cleaner energy, we aim to capture opportunities in the low carbon energy space by providing affordable and accessible solutions and systems by enabling scale of production and infrastructure availability
“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. We look forward to meeting the energy requirements of today and the future with cleaner energy solutions that fuel progress in a just and sustainable manner.”
In its rollout, by 2030, GENTARI aspires to:
- build a renewable energy capacity of 30-40 GW, specifically in solar with added opportunities in wind and battery storage;
- supply up to 1.2 mtpa of hydrogen by leveraging competencies in developing large projects to achieve scale as a low carbon hydrogen producer beginning with projects in Malaysia; and
- become a preferred green mobility solutions provider, supporting the electric vehicle (EV) ecosystem by capturing 10% market share (circa 25,000 charging points based on current estimates) across key markets in Asia Pacific with an anchored presence in Malaysia and India
GENTARI will be accorded the independence to focus on innovating and delivering clean energy solutions, while seeking financing opportunities to grow the business faster to meet existing demands and explore emerging energy technologies.
GENTARI takes its name from the shortened combination of the English word generation or to generate and the Bahasa Melayu word of lestari, which means ’sustainable’. Together the words capture the essence of GENTARI’s purpose to provide the world with sustainably generated and responsibly sourced energy that allows society to change how it lives today and progress into the future.
Its clean energy assets and projects today include:
- over 1 GWp of solar capacity in India and Malaysia;
- a pipeline of clean hydrogen projects being developed in Malaysia and other prioritised markets together with partners; the first of these projects is targeted to come onstream in 2025; and
- over 220 electric vehicles under the Vehicle-as-a-Service (VaaS) model as well as scaling the existing network of some 170 charge points in India and Malaysia.
With already available solutions in its portfolio, GENTARI is committed to making the journey to net zero more feasible for its customers, while growing the overall market for clean energy by investing and innovating with like-minded partners to achieve greater results.
For more information on GENTARI, please visit www.gentari.com.