Science & Technology

REDEX & TNBX to Support Malaysia Green Attribute Trading System (mGATS) Platform

REDEX will form an exclusive partnership with TNBX to support the development of the Malaysia Green Attribute Trading System (mGATS) into the digital trading platform for Malaysia Renewable Energy Certificates (mRECs).

REDEX & TNBX to Support Malaysia Green Attribute Trading System (mGATS) Platform

Singaporean renewable energy certificate (REC) company REDEX will be an exclusive partner to the wholly-owned subsidiary of Malaysia’s leading utility company Tenaga Nasional Berhad (TNB) – TNBX – in transforming the Malaysia Green Attribute Trading System (mGATS) into a leading digital marketplace for Malaysia Renewable Energy Certificates (mREC).

A new digital platform is supposed to advance Malaysia’s renewable energy goals, providing a new avenue for local businesses to pursue their renewable energy commitments with convenience and accelerate the national sustainable energy future. mGATS is designed to facilitate REC trading in alignment with Malaysia’s national commitment to achieve net-zero carbon emissions by 2050.

Launched five years ago as an information hub on RECs, the revamped mGATS platform will now leverage REDEX’s innovative tech solutions to facilitate live trading and auctions with price transparency.

“REDEX is honoured to be chosen by TNBX as a partner for the development of mGATS into a premier digital trading platform for the Malaysian market. We are excited to be part of the country’s journey to create a sustainable future for current and future generations. This collaboration also deepens our presence in Malaysia and highlights our innovative technological solutions to the wider REC industry. It also paves the way for deploying such similar proven solutions in other countries. Utilising our expertise and experience, REDEX will work closely with TNBX to enable more renewable electricity certification in Malaysia.”

Kang Jen Wee, REDEX Founder and CEO

As the premier one-stop mREC solutions provider for Malaysian consumers and businesses, TNBX is pleased to have REDEX, an experienced REC solution provider as its exclusive partner. TNBX Managing Director, Ir. Mohd Razif Abd Halim said the enterprise was looking forward “to working with REDEX to develop a world-class platform for Malaysian corporate and industrial entities to use.”

We have earlier reported that TNB partnered Sime Darby to advance Malaysia’s clean energy goals. The parties have signed a Memorandum of Understanding (MoU) to expand the use of sustainable energy solutions in township development in the country.

Nina Bobro

1495 Posts 0 Comments

https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.