Incessant investments in Power sector to meet the mounting energy demands
Najib Razak, Prime Minister of Malaysia recently announced that, the government is planning to provide energy investments around 8.2 billion ringgit, for the installation of the oil and natural gas fields in the country. The premier of Malaysia asserted that, the large energy investments are the parts of the Economic Transformation Programme established by the government and the aim of the programme is to create great deal of jobs and to drive the nation as a developed country by the next decade. The investments in energy provided by the international capitalists, rapid developments taking place in the country manifests that, the economy of the Malaysia is transforming tremendously. Najib Razak articulated that, around three billion ringgit will be invested in the next couple of years, for the development of the Tanjong Agas Oil and gas industrial park. The Tenaga Nasional Berhad, largest energy supplier in Malaysia will be investing around four billion ringgit, for fortifying the infrastructure and construction of two hydro power plants in Perak and Terengganu.
Eurus Energy Holdings Corporation, largest developer of wind power in Japan is planning to provide more than 100 billion yen of energy investments, for the installation of the solar and wind energy power plants. The novel power plant in the Japan will be producing clean power, to meet the rising demands of the nation. Tetsuro Nagata, the chief executive officer and the president articulated that, the major wind energy farm in the Japan will be increasing the capacity of the renewable energy projects from 1000 megawatts to 1950 megawatts in the Europe and United States in the forth coming years. Many investments in energy will takes place throughout the United States and many international companies are planning to produce energy investments in the wind farms situated in Washington, Colorado, Texas, Oregon and Oklahoma.
HCL Technologies, Indian based information technology servicing company recently has agreed to invest around 100 million USD for installation of the smart grid solutions to the Indian power sector. The smart grid solution is a two-way digital technology, which will deliver electricity to houses, regulates the energy supplied to the electrical appliances and reduces the wastage of power. The installation of the advance electricity network by the HCL Technologies will be integrated with the generators, and this will modulates the supply and demand, reduces the electricity cost of the energy consumers and the appliances are user friendly. Vineet Nayar, the chief executive officer of the HCL Technologies declared that, the government of India will contribute around 5 percent to the total revenue of the company, and the government is making substantial investments in energy in the power sector.