To encourage more businesses to use green and sustainable technologies, Prime Minister Datuk Seri Anwar Ibrahim announced that tax benefits will be strengthened and extended until 31st December 2030.
Investment tax credits of up to 100% will be available to businesses engaged in green and sustainable technology initiatives, electric vehicle (EV) charging stations, and purchasing green technology assets for personal use, according to Anwar, also as the Finance Minister.
To guarantee the nation’s long-term energy security, he said, the energy transition plan needs to be expedited, including through investments in renewable energy.
“Tenaga Nasional Bhd is investing RM15 billion to strengthen the national grid, while UEM Lestra is investing RM1 billion, including in an energy storage project at Kuala Lumpur International Airport and a 1-gigawatt hybrid energy project in Johor,” he said when tabling Budget 2027 in the Dewan Rakyat on 9th October 2026.
According to Anwar, the energy transformation strategy called for the Kumpulan Wang Persaraan (Diperbadankan) (KWAP) to use a RM1 billion Climate Fund for green initiatives like decarbonisation and renewable energy.
“Hot weather contributes to higher household electricity consumption. Through NUR MADANI, rebates of up to RM200 are available to buyers of energy-efficient air conditioners and refrigerators,” he said.
