14
Mar
An estimated US$561.8billion is needed for various investments to realise the country’s energy transition (ET) commitments of net zero emissions by 2070, based on the National Energy Transition Framework. The amount, to be spent on four broad areas: energy, transport, residential and industrial, and service, will boost the country’s efforts toward reducing greenhouse gas (GHG) emissions and, more importantly, achieve decarbonisation, energy access, security and energy efficiency, says the Ministry of Energy. To this end, it is expected that most of the investments will go into building power generation plants to power electric vehicles as well as increasing access to…