Malaysia's Bold Hydrogen Production Goals for Clean Energy Transition
Key Ideas
- Malaysia plans to produce 2 million tonnes of hydrogen by 2030 and 16 million tonnes by 2050 under the Hydrogen Economy and Technology Roadmap, aiming at generating $192 billion in revenue by 2050.
- Hydrogen and renewables are seen as crucial for Malaysia's clean energy transition, with the Asia-Pacific region expected to dominate 43% of the global hydrogen market by 2050.
- Key strategies include financial incentives, subsidies for fuel cell electric vehicles, and support for infrastructure projects through low-interest loans and public-private partnerships to promote hydrogen technologies.
- The roadmap aims to position Malaysia as a competitive player in the global hydrogen economy, projected to reach $189.19 billion by 2050, emphasizing capacity building and demonstration projects in transportation, power generation, and industry.
Malaysia is gearing up to significantly ramp up its hydrogen production as part of the Hydrogen Economy and Technology Roadmap (HETR). The country aims to produce 2 million tonnes of hydrogen annually by 2030 and a substantial increase to 16 million tonnes by 2050, with the potential to generate a significant revenue of $192 billion by 2050. The Minister of Science, Technology and Innovation, Chang Lih Kang, highlighted the importance of hydrogen and renewables for Malaysia's clean energy transition, especially as the Asia-Pacific region is set to dominate almost half of the global hydrogen market by 2050.
To achieve these ambitious goals, Malaysia will implement key strategies such as offering financial incentives like Green Investment Tax Allowances, subsidies for fuel cell electric vehicles, and supporting infrastructure projects through low-interest loans and public-private partnerships. The country is also focusing on capacity building and demonstration projects to promote hydrogen technologies across various sectors including transportation, power generation, and industry.
The HETR aims to position Malaysia as a competitive player in the global hydrogen economy, which is projected to grow to $189.19 billion by 2050. By emphasizing innovation, collaboration, and investment in hydrogen technologies, Malaysia is paving the way for a cleaner and more sustainable energy future.
Topics
Investing
Clean Energy
Global Economy
Renewables
Economic Growth
Financial Incentives
Infrastructure Projects
Asia-Pacific Region
Technology Roadmap
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