Malaysian utility company Tenaga Nasional Berhad (TNB) yesterday (1 July) launched Vantage, a renewable energy investment and asset management company.
Vantage will own, operate and manage a portfolio of renewable energy projects in the UK and Europe.
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Headquartered in London, the new company will seek to take advantage of the UK’s “robust renewable energy growth trajectory and supportive regulatory framework”, according to TNB.
TNB has been investing in UK wind and solar since 2017 and has acquired a 400MW portfolio.
“With the establishment of Vantage, we are on track to achieve the overall target of 8.3GW of TNB’s renewable energy capacity,” said Datuk Ir. Baharin Din, CEO of TNB.
In the short-term, Vantage, which will be headed by Vian Davys, will be focused on the acquisition of subsidised renewable obligation certificates (ROCs) and Feed-in-Tariff (FiT) assets across the UK and Ireland.
“We are open to explore opportunities with equity partners who are interested to join us as we accelerate our international business growth,” said Shahazwan Harris, chief international officer at TNB.