Petronas has been investing in solar energy, and they plan to massively boost those investments in the next few years.
Petronas is one of Asia’s largest oil companies, and it’s unusual to hear green news coming out of this sector.
But the oil giant has been taking actions to clean up its act through investments in solar energy, and they plan to massively boost those investments.
These are the plans Petronas has as Eco-Business reports.
“While the company has invested in solar power projects since 2013, attaining 14 megawatt-peak (MWp) of installed capacity by 2018, it aims to have at least three gigawatts of installed renewable energy capacity by 2024, through renewables unit PETRONAS New Energy.”
The company’s New Energy Division is entirely focusing on renewable energy, both on the production side as well as battery storage and electric vehicles.
On the energy production side, the company invested in India’s largest solar roof installation with an 800-megawatt capacity. This project alone will serve energy to over 200 commercial buildings.
And project managers are now focusing on fully integrated solutions to provide solar panels, hybrid systems, and battery storage for commercial and industrial customers.
This is a significant move that could result in a gradual decline of Petronas’ fossil fuel portfolio.