00:00Haji Fautila bin Haji Yusof, Deputy Prime Minister and Minister of Energy Transition and Water Transformation, for a special keynote
00:08address.
00:11Ladies and gentlemen, the energy transition is ultimately not only about technology, infrastructure or markets.
00:20It is also about nation building.
00:23Malaysia's Second Prime Minister, Tuan Abdul Razak Hussain, once reminded us, I quote,
00:29I regard our present national and human endeavour as vital, not only to bring about change for the sake of
00:38change, but to bring about change for the well-being and prosperity of our people, unquote.
00:46The wisdom remains as relevant today as it was there.
00:53So every major chapter in Malaysia's development from the rural electrification and industrialization to digital transformation was made possible because
01:05we choose to invest not only in infrastructure, but in people, institution and shared purpose.
01:12The energy transition must be approached in the same spirit.
01:17It is not merely a technological shift.
01:21It is at its core about the well-being and prosperity of our people.
01:28For Malaysia, and I believe for ASEAN, the energy transition is not only an environmental imperative.
01:36It is an economic necessity and a strategic priority.
01:42The choices we make today will determine the competitiveness of our industries and the well-being of people for the
01:51millennia to come.
01:52Domestically, Malaysia, through the Nagan National Bahad, is set to invest 43 billion wg or USD 10.8 billion ring
02:03dollars from 2025 until 2027
02:08to upgrade and strengthen our grid system, including integration of AI elements, as part of our efforts to accelerate renewable
02:18energy initiative and advancing our energy transition aspirations.
02:24Across Southeast Asia, electricity demand is projected to grow approximately 4 to 5 percent annually over the coming decade,
02:35driven by industrialization and urbanization, and increasingly new sources of demand, such as digital infrastructure, electric vehicles, cooling demand, and
02:49AI data centers.
02:51Data centers, for example, are emerging as one of the fastest growing sources of electricity demand globally, driven by the
03:00rapid expansion of AI and cloud infrastructure.
03:03As economies become increasingly digital and electrified, energy systems around the world will face growing pressure to deliver reliable, secure,
03:16and sustainable power at scale.
03:19This presents both challenges and opportunities.
03:22As ASEAN's digital economy continues to expand rapidly, the energy industry must modernize grid and transmission networks,
03:32strengthen interconnectivity, strengthen interconnectivity, and develop energy storage solutions that can provide greater system flexibility, stability, and resilience.
03:43In this regard, the ASEAN Power Grid Initiative stands as a strong testament to how ASEAN member state can work
03:53collectively to advance cross-border electricity trade,
03:55strengthen regional energy security, strengthen regional energy security, and support a more resilient energy future for the region.
04:04Globally, investment momentum in clean energy continues to accelerate as countries intensify decarbonization efforts and strengthen energy security.
04:16For Southeast Asia, sustained investment and stronger regional collaboration will be essential to support long-term economic growth and achieve
04:28energy transition ambitions.
04:30Indeed, our region is well positioned to capture a meaningful share of this capital, provided we continue to deliver the
04:40fundamentals that investors look for.
04:43In Malaysia, the government continues to communicate clearly on what investors require for long-term visibility through instruments such as
04:54National Energy Transition Roadmap.
04:57What is required now is disciplined execution and dedication from partners to translate this vision into outcomes.
05:08So, ladies and gentlemen, government play a critical role in setting direction, but it is the private sector that brings
05:17capital, technology, and operational expertise to scale solution on the ground.
05:23As we look to the future, I call for deeper collaboration across the entire value chain.
05:31Partnership between government agencies, utilities, developers, and financial institutions will unlock new opportunities and catalyze the energy transition at scale.
05:43Reflecting on this year's theme, energy and AI, the synergy for energy transition, there is no doubt that our world
05:54and the energy system of tomorrow will be fundamentally different from today's.
06:00It is important that we remain adaptive and forward-looking to development of our time, so our capabilities evolve in
06:10step with this change, and that these changes may augment and improve the way we live.
06:18So, to conclude, I wish to comment to Naga National Board Hub on the successful convening of the second edition
06:24of ET-COM and for shaping it into a credible platform, bringing together minds from across the world.
06:32The conference deeply reflects Malaysia's commitment to accelerate the energy transition, moving with certainty, as we do, from ambition to
06:44execution.
06:46So, looking ahead, let us remain guided by the principles of Malaysia Medani.
06:53Our energy transition must not only be sustainable, but also just, inclusive, and equitable.
07:01It must create opportunities for businesses, strengthen communities, improve livelihoods, and ensure that no one is left behind.
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