Beliyon Ringgit, Triliyon Ringgit Dah Bermula Dah. Its Back To Billions And Trillions Again.

 https://www.nst.com.my/business/2023/07/935497/rafizi-10-wide-ranging-catalytic-initiatives-will-open-rm185-trillion

National Energy Transition Roadmap 10 investments RM435b - RM1.85 trillion by 2050

(OSTB : RM1.85 trillion divided by 27 years = RM60b per year. Last year 2022 FDI into Malaysia was RM97 billion.)

"The National Statistics Department said in a statement that as at the end of the 2022, the country's FDI position was RM879.1bil, up from RM782bil in 2021". 

(OSTB : So now energy projects alone worth RM60 billion a year?? Are you going to put colored lights up your kazoo?)

NETR contains interim measures to meet our Net-Zero target. 

OSTB : The Renewable Energy is now the game of the World Economic Forum fellows. I can tell you more about their involvement here but maybe later. (Yes they are fully parked here). They claim that RE will be cheaper than fossil fuel electricity. The costs for solar and wind generated power has been dropping but the quantums are still debateable.

one project "championed" by Khazanah JV with UEM and ITRAMAS. 
1 gigawatt (GW) solar power plant largest in Southeast Asia
attracted high-profile global investments totalling RM6 billion

OSTB  : Why UEM? Who is ITRAMAS? Open tender or no open tender? 

Who exactly are these 'high-profile global investments'?

Power distribution in Malaysia is a monopoly business. The national power utility is TNB. All the power that is generated in Malaysia will be bought by TNB. Its a monopoly industry. It is not very competitive.

All that these super duper high-profile global  businessmen need to do is to secure a PPA from TNB. Power Purchase Agreement. A PPA from TNB is worth billions of Ringgit. 

As long as the PPA has the magic statement "TNB agrees to buy your megawatts / gigawatts of electricity for the next 15, 20, 30 years at xy sen per kw/hr"  then any bank in the world will provide financing. Its a done deal.

Or they can even go for direct public listing under infrastructure special projects classification or something like that. If not here at the Bursa Saham then maybe in Hong Kong, Shanghai etc. Its a done deal.

After that it is cap duit for 15, 20, 25 years or whatever. This is a monopoly business. There is only one buyer of the power ie TNB. 

So what is the value added provided by the super duper high-profile global  businessmen? Why give the high-profile global  businessmen such easy mak-nenek type business licenses to print money from the Malaysian consumer?

Why not give it to our own Malaysian businessmen. If you give me a PPA from TNB for 1 Gigawatt of electricity for 20 years  I will personally raise the funding for you within weeks or months. It is not a problem at all. Like I said, its a done deal.

This is how that rice import fellow became super rich. He had a PPA from TNB.  He was (or still is) the single largest supplier of power to TNB.  This is how YTL became super rich - they also had a PPA from TNB.  The YTL PPA was much cheaper than the rice import fellow's PPA. (I know because I was involved in the projects).

So why give a 1 gigawatt "cap duit" PPA to  high-profile global  businessmen?

Let  the  high-profile global  businessmen bring in their own technology, their own money and most important of all make sure they compete in the open market WITHOUT Malaysian crutches, without creating more monopolies and oligopolies in Malaysia.

Rafizi said "put in place the framework of carbon capture and storage (CCS) so that catalyst projects could be implemented in these two years"

OSTB : Do what you want but please spend your father's money ok. NOT MY MONEY. Awak nak bakar duit kah, belanja duit kah, pi bakar duit bapak awak. Jangan membazir duit saya. No taxpayers funds. 

"carbon capture and storage (CCS)" ke,  catalyst projects ke go and spend duit bapak kau. Dont play with my money.  No taxpayers money.

Folks, let me share with you that some of these "global warming, zero carbon footprint, zero emmissions" people are planning to replace our coal fired power plants (which provide half of Malaysia's affordable electricity) with gas fired power plants. 

Gas fired plants are still fossil fuels. And gas fired electricity is much more expensive than coal fired electricity. Meaning our electricity tariffs will go up. Thats what it means.

Plus it will cost billions of Ringgit to convert coal fired power plants to gas fired power plants.

So the suggestion is that the gomen use our taxpayers funds to partially or fully fund these conversions.  Banyak cantik.

We the taxpayers pay for these conversions then these high-profile  businessmen make the money. Banyak cantik.  

All in the name of global warming, renewable energy, zero carbon footprint bla bla bla. Some people will get super rich. Hello World Economic Forum.

What will we get? Higher electricity tariffs.  

There is more going on. Click on these quick links and see who is connected to whom:

https://www.malaysianow.com/news/2022/11/07/pressure-grows-on-rafizi-over-rm17-million-windfall-from-loss-making-invoke

In the article above, Lee  .. .. .is the business tycoon who is 2nd largest shareholder of Invoke

https://www.thestar.com.my/business/business-news/2021/01/04/itramas-targets-60-revenue-from-solar-segment

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.