Malaysia's Ambitious Hydrogen Production Targets for 2030 and 2050
Key Ideas
- Malaysia aims to produce 2 million tonnes of hydrogen annually by 2030 and 16 million tonnes by 2050, with potential revenue of 192 billion USD by 2050.
- Hydrogen, along with renewables, is identified as crucial for Malaysia's clean energy transition, with Asia-Pacific region predicted 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 to boost hydrogen technologies in transportation, power generation, and industry.
- The Hydrogen Economy and Technology Roadmap aspires to enhance Malaysia's competitiveness in the global hydrogen economy, projected to be worth 189.19 billion USD by 2050.
Malaysia is setting ambitious targets for hydrogen production as part of its Hydrogen Economy and Technology Roadmap (HETR). The Science, Technology and Innovation Minister, Chang Lih Kang, revealed the plan to produce 2 million tonnes of hydrogen annually by 2030 and significantly ramp up production to 16 million tonnes by 2050. This initiative is projected to generate at least 905 billion MRY (192 billion USD) in revenue by 2050. Chang emphasized the importance of hydrogen and renewables in Malaysia's transition towards clean energy, with the Asia-Pacific region expected to play a major role in the global hydrogen market by 2050. To achieve these targets, Malaysia is implementing key strategies including financial incentives such as Green Investment Tax Allowances, subsidies for fuel cell electric vehicles, and support for infrastructure projects through low-interest loans and public-private partnerships. Additionally, the country is focusing on capacity building and demonstration projects to promote hydrogen technologies in various sectors like transportation, power generation, and industry. The ultimate goal of the roadmap is to position Malaysia as a competitive player in the global hydrogen economy, which is anticipated to reach 189.19 billion USD by 2050.
Topics
Asia
Renewable Energy
Infrastructure Development
Economic Growth
Clean Energy Transition
Asia-Pacific Region
Technology Roadmap
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