PETALING JAYA: Tenaga Nasional Bhd
(TNB) is on track to rebrand and transform the Malaysia Green Attribute Trading System (mGATS) into the country’s leading digital marketplace for Renewable Energy Certificates (mREC), with the rebranded mGATS set to launch in the first quarter of 2024.
In a statement, TNB said the Natural Resources, Environment, and Climate Change Ministry and TNB’s unit, TNBX Sdn Bhd, had collaborated to upgrade mGATS in response to the surging demand for green electricity, particularly from multinational corporations.
Initially introduced as an information hub for renewable energy (RE) certificates four years ago, mGATS is undergoing a significant shift in its functionality.
The mREC is a market-based instrument certifying ownership of electricity generated from RE sources in Malaysia, specifically addressing greenhouse gas emissions related to electricity generation.
TNB president and chief executive officer Datuk Seri Baharin Din said the launch of the rebranded mGATS signified a crucial milestone in Malaysia’s journey towards a greener and more sustainable energy future. — Bernama
